The key is to buy a property with a fat cashflow that more than pays off the HELOC.

The fats cats are on a free ride...............so be prepared for their greed to cause more havok one day when we least expect it. 

I really got my license for the education more than to become a realtor plus I like the fact that any property I buy in the future for 500-600K  I will get a fat commission check!!!! 

With two properties under your belt, I recommend you making sure your next buy is what they call a "fat pitch" ...in other words, one you can knock out of the park...you're young enough to wait for it.  

If I was getting a sure thing and even if that sure thing didn't happen I got fat EM it's a no brainer versus a friend who wants the property but needs a bank to approve with all these conditions.

Appreciate a Big Fat Thumbs Up "Vote" for the post!

Jacked my interest rate up for a big fat lender credit to cover closing costs.Got $8,000 in lender credit.Paid $120/month more, for six months, because of that higher interest rate.Did a VA IRRRL right at the six month mark (lurkers: this is ONLY for VA loans... call 1-800-Marines and serve for 4 years if you want this).Closing costs on the refi were about $2500.So I got $8,000, but was out [ $120 * 6 + $2500 = $3220 ]. 

'BOOKMARK' this on your computer.There is an old Spanish saying ""Only the owner of the horse will make the horse fat" ... with this in mind why would you invest in FL and not near you in Ca? 

Sounds like Unit 1 will need about 3k in refreshing.So 120k total for 825 a month.That 825 will cover the cost for the finance, insurance, taxes.But be prepared to write some fat checks.How long you plan on living there?

I also counsel them to show compassion for people with chemical dependencies, even if you disagree with them and think they are a big fat pig.