However, I have helped a couple people with extremely basic home layouts when they were in the process of remodeling their home.

So, if you can dump 5k onto the HELOC early in the month, and pull that out progressively over the course of the month, you're saving 2,500 * (.04 / 12) = $8 per month (2,500 would be the average daily balance if you pulled the 5k out evenly over the month.)We did dozens of hypotheticals, and even the more extreme ones topped out at $10 per month.

This is an extremely unusual practice, never seen this in 15 years of my investing career.

Pros: Diverse job market, low unemployment, great resilience during recessions, nice appreciation, 1% rule can be hit if you look hard enough, great economy, good schools, Midwest nice.Cons: Extreme weather at times (hot/humid summers, tornadoes/hail, brutal cold in Jan/Feb), high insurance premiums, property taxes also really high.

Buying hood properties with what is basically credit card debt in today’s market is so extremely high risk it borders on recklessness.

I use to mentor newbies at an extremely low fee.

I'm an investor and property manager who is extremely knowledgeable about the Garland area.

I'm not an expert, however, I am extremely experienced and if I dont have the answer I know where to find it!

Establishing a relationship with a few of them locally or nationally [if you have a network] would be extremely beneficial.

When I started, I used a $64K HELOC, and today, I’ve grown it into a $3,000,000+ portfolio.That being said, BE EXTREMELY PICKY with your first property.