I earn about 80k between two jobs, one of which is for a mortgage company, so I'm fairly knowledgeable about certain mortgage related concepts.

I own several businesses. I sold one of them for $400K a couple of years ago, took half down and seller-financed the rest. The buyer made payments for a few months, ran the business into the ground, and stopped paying...

@Jayme Jahns, I used Tru Mortgage for a SFH investment in Georgia and put down 20%.  

So, a client of mine bought a property with a conventional mortgage and Deeded the property into an irrevocable trust Now, after a number of years the lender caught on and is calling the loan.

I'm totally mortgage free at the moment anyway.I always wondered, was I smart, and just plain lucky??

Many investors that use this strategy accept they are basically only having their mortgage payment paid by the tenants.It is a good strategy in order to get into the game.  

I thought I had an exit strategy in place with a mortgage company including terms that were fixed and amortized for 30 years with the understanding they had to season for 6 months.

So 2400/2= 1200- mortgage(667) =+533.

I took the tax penalty and used it to put a down payment on a new primary mortgage using fha and I turned our first house into a rental.

https://www.biggerpockets.com/forums/12-starting-o...To reiterate what I wrote there:- "As long as you've accumulated sufficient equity, and your DTI ratio is fine with your Lender, using HELOCs as deposits (and starting new mortgages for the rest) is probably the best/easiest way to keep buying real estate - using NONE of your own money!