Many of us have goals around family, friends, faith, relationships, health, fitness, and other personal goals that inadvertently get put on the back burner for financial matters. 

I am looking into ways to obtain a down payment for an owner occupied property multifamily property as a back up plan.

Kevin Dehesa Ummmmmm...let’s back up and start with the “why”.

I am going to try to take out a HELOC against a rental property I own free and clear in order to do this B(A)RRRR strategy once I get my credit score back up in the 780 range.  

I did this for the next two nights until yesterday I couldn't get the boiler to power back up. 

I got a couple low ball offers but also received several strong offers....one which we took and one backup. 

However, I do have a property that took a rental rate hit during the market downturn, and took a while to get back up where it should be. 

Gift card works ask management if it's O.K. some Landlords/management's love working with serious agents and if you one day every submit a back up app without paying the fee believe me you would be the 1st one they call!

The point is that if the market goes down but you are not over leveraged and therefore do not need to sell it has always come back up. 

No backup for income or assets.