Then my current primary home will be rented out to balance the cash flow of this purchase for the next year or so.

Buying at the mortgage balance (~$150K) positions is under the fair market value and can trigger gift tax rules.

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

I’m looking for insights on how to put together a deal with the following details:Asking Price: $260KMarket Value: ~ $265KProperty Details: 3 bed / 2 bath / 1,400 sq. ft.Days on Market: ~100Loan Type: VA Loan (Attempting a VA Loan Assumption)Mortgage Balance: $200KThe ChallengeThe seller is behind on mortgage payments, and while I don’t have an exact amount, the agent mentioned it’s over $20K.

If you are determined to pay one off, then pay off the lowest balance first. 

The January 2025 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices and balanced market conditions in the Austin metro as we start the new year.

.🔹 Co-Living is Gaining Legal Ground:Colorado eliminated all restrictions on the number of unrelated adults living together statewide as of July 1, 2024, marking a major victory for co-living advocates.This week, Jacksonville Municipal Court ruled in favor of PadSplit, voiding citations for “illegal boarding houses” on constitutional and fair housing grounds.Cities like all over like Washington D.C. are considering zoning reforms to allow more co-living developments as an answer to the housing crisis.As Airbnb restrictions tighten, co-living is emerging as a scalable and legally sound alternative that balances affordability, tenant stability, and community needs.

Incredible lessons learned on how detailed the city of Bellaire requirements are, working in the floodplain, balancing multiple projects and scaling the business.

It should buy time, and avoid legal fees being added to the balance as the foreclosure attorneys wont be involved for a while as they process you for different workouts.

- very low remaining mortgage balance!!