Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

Self-purchased and managed.

Since there is a co-owner, you would have to purchase the property and it is really hard (if not impossible) to pull a HELOC as the basis for the purchase (since it is not your primary residence). 

Typical equity build up time is 5 years, depending on your market.But can you purchase another rental using your own capital?

I am looking to purchase a residential or commercial multi family in the Sherman/Dennison TX area.

Have as many people you can trust give you some advise about your purchase.  

His credit score is fine but his income is showing too low to get the loan, so I though maybe I could use my HELOC to make the purchase and do a Lease to Own.

Hi Fernando....I'm a broker looking for a company that does DSCR loans with no or very little seasoning to allow for the value instead of the Purchase Price.

If you're looking for more active strategies like purchasing your own real estate let me know and I'm happy to send updated recommendations based on what your situation is and what your goals are :)

Purchase price: $220,000 Sale price: $225,000 Contributors: Peter Vekselman Partner Driven, in collaboration with our partner Archie Raglin, successfully purchased a property on Outlook St, Mission, KS, for $220,000 on 12/30/2024.