I recently helped a friend who was in a similar position - looking to tap into equity for a rental property purchase in Phoenix.

Purchase price: $8,000 Cash invested: $20,000 In 2013, I decided to put much of what I had learned from books into action by purchasing a two-bedroom home—not as a traditional investment property, but as a home for my mother.

They also want a priority lien on the property.It sounds like you are looking for someone to fund your down payment, I would be looking for an equity partner over debt as nobody likes to lend money in insecure positions, especially when a borrower lacks skin in the game.How much are you planning to come in with yourself?

I feel supported by the fellow RaiseMasters and have had a very positive experience thus far.

Financially, I’m not in a position where I need to rent it out immediately—I can afford to wait a bit if needed.This is my first time as a landlord, and I was lucky with my first tenant, who was fantastic.

You can very comfortably and at your own pace set yourself up for a very stable start by strategically positioning yourself to be able to buy a property this way if you start preparing now.I hope this was helpful!

Getting the federal return correct is the most important and with owning two properties, there could be some positive tax benefits.

Our end goal is to be in a position where we can be very selective and choose the clients and properties we work with so that doesn't happen.

It's a great time to get in right now when you can still find positive cash flow and amazing appreciation here.

If you have favorable terms on those first mortgages, you might find that a HELOC or a second-position loan is more cost-effective than doing a full refinance or a DSCR loan.