I am looking into purchasing a second (vacation) home and would love to hear your thought on the pros and cons of going a conventional 30-year second mortgage vs. using a HELOC or Home Equity Loan on my Primary Residence to purchase the second home outright. 

What this leads to is higher purchase prices but also higher rents in these areas. 

Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

What's the location, purchase price, expected Reno cost, ARV, etc.?  

Purchase price: $490,000 This is a unique opportunity to participate as a investor in a single family residence valued at $3M and higher.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

I purchased a fix and flip that got complicated when we found one of the basement walls was bowing in.

Purchase price: $360,000 We bought this stacked duplex, lived in one unit for 2 years and moved on.

I seriously looked into purchasing a few years back in Valencia but decided ultimately the US had more potential.

After years of focusing on my career and building financial stability, I’m ready to dive into real estate investing and start creating passive income and long-term wealth.My short-term goal is to purchase my first duplex or single family rental.