Don't accept ANY partial payments.

where is see a total cluster with Morby students is they are now selling their car's sub too.. can just see it.. sell a car to someone on facebook with the promise they will pay our payments ..

@Timothy Frazier Yes, the only reason to use HML as a down payment is if the property is "mostly turnkey" AND you don't have the funds to renovate AND you have strong CMA comps from a real estate agent that supports that the fact that you are buying a property that is under valued AND your renovations would push that so that you could refinance.

I am currently in the planning phase of my real estate investment journey and had a few questions I’d like to ask someone more experienced.Would it be smarter to focus on paying down my own mortgage and then use a HELOC as a down payment for my first investment property, or should I simply use my savings for the down payment instead?

You have to borrow your equity and then make payments on it.

Shes carrying 60k in debt from student loans as well as cc bills, but she makes payments on time.

Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers.

I'm very new to investing and weighing which options would benefit me the most.Option 1:  Use the cash as down payment on another primary residence and rent out the current.

The carrying costs are low, but tenant was making partial payments by month 2.

However, my debt to income ratio with that home loan, and student loan doesn't look that great currently and I don’t have much for a down payment.