If that person decides to buy the property, they must "execute" the Option Agreement, by signing a Purchase Agreement. 

My advice to clients who are buying their first property is to have a plan and then execute.

I'm hoping to connect with someone that has executed the strategy in the Houston area.

Saddle creek title and executive title

Please feel free to reach out and mention this post to our staff.  

Interestingly, one aspect that no one has brought up is how often is your PM staff in the unit already for other maintenance issues?

I am about to start The 4 disciplines of execution after listening to the BP podcast with the author.

I suggest finding numerous SFH and  investment properties (out of state) and calculating your ROI, find out if its really worth your wild to sink 20k in a property that might cashflow 200/month, find which area might appreciate faster..and execute!

You should probably have the completed form either prepared or at least reviewed by a Massachusetts attorney before you execute (sign) it.https://judicialtitle.com/pdf/AssignmentContractPurchaseRealEstate.pdf

This might be important if you're looking to manage your DTI or debt to income so you can keep your purchasing power open for any deals coming to your desk in the future.You're only limited to 50k or 50% whichever is lower with your 401k anyway.The HELOC on the other hand will cause your monthly payment whether interest only or principal & interest to go up which will increase your DTI and leave less room for future qualification depending on the deals you purchase with these funds.From a credit perspective, having the HELOC might be better because now you have an additional trade line reporting good payment ratings to the credit bureaus assuming you pay your bills on time.Ultimately, its good to use a fine balance of all sources based on your risk preferences, speed of execution or purchase, financial position today, and your deals you have access to to get this capital to work on your behalf.Hope that helps.