Looking to buy a brand new house 2023 price is reasonable and charging 0.8-1% of purchase price is do able..my question is financing real estate but my first property is almost paid off and has been an uninterrupted rental for 7 years thankfully 90% paid off, cash is tight...could take out loan against CC at 4% flat to pay off house then maybe leverage paid off rental (private mortgage)?

I’ve lent in the 2nd lien position several times but it’s a very tight buy box - and I will absolutely not do it behind a HML.

As much as I wanted to make something in Texas work, there was just too much demand from 2nd home buyers that drove up prices to a point where investment returns, even in 2021-2022, were tight (vacation home buyers that didn't care about the investment return and just wanted a beach/lake/hill country home for personal use). 

The time frames are tight.

I'm as confused as you, this is NOT a deal at 2 mill or 1.9 mill, WAY to tight, HUGE risk.

@Steve Cribb to be successful, landlords need to set boundaries.Many tenants, especially desperate ones, try to make their problems their landlord's problems.As a PMC, we try to be reasonable, as "life happens" and "tenants are tenants for a reason", meaning they don't plan well and live paycheck to paycheck.Part of our being reasonable though, involves deadlines and we AUTOMATICALLY start the eviction process so a tenant knows this. 

I'd skip the build process as it's timely and you need a construction loan and your overall financials appear tight for that.

Instead you can try to APPEAL your taxes using the form below:https://www.phila.gov/media/20240327122414/BRT-Market-Value-Appeal-Form-2025.pdfThe deadline is OCT 7TH 2024!

Cashflow is super tight so can't afford a local PM.

Every market I have looked at gets tight with use of a pm.