When speaking with them, demonstrate genuine interest in their situation and goals.

What’s your primary goal for the cash-out refinance?

I get more bookings from airBnB then from any other OTA yet AirBnB is the OTA I have the least positive feeling towards.I hope the new STR owners/hosts realize the risk they take if they choose to list on a single OTA.I think you have a good reason to follow what you believe. 

For example funding rehab with the goal of a quick refi to pay off the heloc.

These loans are quick and align well with your goal of selling within the year...just watch for carrying costs.For Home 2, the $210K mortgage complicates things a bit, but it’s not a dealbreaker.

That said, I highly recommend speaking with a local professional in the DFW area to get insights tailored to your specific goals.

My goal is to acquire my first investment property, ideally a single-family rental, by early-2025.I’m particularly interested in hearing from others who’ve navigated the Hudson Valley or Catskills markets, especially with rental properties or creative financing strategies.

Forcing appreciation on properties requiring work is a longer term goal but I’d like to start with a simpler project.  

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

Choose a HELOC if the property is appreciating and cash flow remains strong, or a 1031 if you want to diversify or upgrade assets.This post does not create a CPA-Client relationship.