I would say for most people, the 1st position heloc is no a good bet, especially if you have a 1st mortgage rate of less than 5%.Using this strategy with a 2nd position heloc can be just as powerful, so you can have your cake and eat it too!

However, our tenant turned out to be problematic—late payments, issues that led to an eviction, and additional repair costs before we could relist the property for sale.Now, after months of making mortgage payments out of pocket, we finally have an offer.

Reach out to a commercial mortgage broker. 

While the 4% mortgage is great, your 1M in dead equity isn't giving you a great return.

If the market rents do not cover the mortgage, you may do a no ratio DSCR for a higher rate/reduced LTV  Which most likely the 1007 will be nowhere near the revenue generated by a PadSplit operation.

There are obviously a lot of variables that come into play.I'm looking at developing a small 2 acre property that has already been engineered for septic and platted for 8 mobile homes. 2 MH are already on site with all utilities present, but for the 6 MH remaining that I want to put on site, the land still has to be developed.

We've been able to rent properties pretty quickly, just as long as the rental rate is appropriate!

Refinancing will change your mortgage rate, and if it’s worse than your current rate, it’s not worth it unless you’re getting a great deal.

DIRECT MORTGAGE LOAN COMPANY6.

Market Fluctuations – What if appreciation stalls, or rates rise, impacting your refi strategy?