My thought process is buy a $300k townhouse, build my equity, continue to save, then invest into rentals later through a HELOC.

My current actions are looking for doing some light cosmetic repairs on my current house (fencing, flooring and other misc) using the equity in the form of  a HELOC (25k) and personal money (25k).

If you can pull a HELOC on the property that would give you the most amount of "time" freedom to find another deal.DI would not kill the goose that is laying golden eggs each and every month...

Got my wife involved (she's the smart one) and we got a HELOC on our house in preparation of REI.

It was a life changer for me i have now binge listened to over 50 of the bigger pockets podcasts,  (i actually look forward to my commutes  now) i haven't fount a good deal yet but im talking to re brokers, im talking to mortgage brokers, im talking to bankers,  im in the prprocess of securing a heloc, im talking to other investors, i have been to a re meetup, it all looks possible now.I wish i would have discoverd it a few years ago,  i would have probebly done a few things diffrently but im happy that i found it now.

Even better, if you have equity in your primary residence, use a HELOC to pay cash or make a down payment on your next property.

Henry Stallings Thanks for the feedback, I do not have an LLC and are you referring to my FICO score or a HELOC?

I used a business LOC and a HELOC and some credit cards to fund my purchase and rehab. 

Purchase loans are non-recourse, refinance loans (especially cash out), cash out 2nds or HELOCS are recourse loans.The key difference and why this is is because when you cash out a property you receive cash so the lender has recourse to get that cash back whereas with a purchase the full amount is used to purchase the property therefor the lender can only sue for the property.Non-Recourse States (each state is slightly different):AlaskaArizonaCaliforniaConnecticutFloridaIdahoMinnesotaNorth CarolinaNorth DakotaTexasUtahWashington

Hi BP forum,If I were to secure a $50k HELOC on my primary residence at 3.5% and never actually use any of the money would I still have monthly payments?