Jeff Phillips comes down to risk.If you take a HELOC and something we’re to happen and you could not pay then you lose your primary residenceIf you get a regular loan and you cannot pay your not paying on that 2nd home and they take that but not your primary residenceCheck with an accountant as well as I believe with the new tax law you cannot deduct a heloc if it is not used to improve your primary residence

The reason for renting from us even though they have a house paid off is because their current primary residence is very large and two stories.

We are looking to rent at townhomes and apartment rentals close by where we currently reside since it is close to our jobs and our kids’s school.

I'd recommend discussing the risks with an attorney and at the very least having a plan in place to deal with the worst issues that could arise with leasing your primary residence short term.Be sure to provide proper notice (probably 1 month in advance of the lease end date, but check your state laws about proper notice) for them to leave and it would be a good idea for you to have a neighbor check to confirm they are moving out in the days prior to your returning.

At first, a real estate offer that I created for my company was signed, and then we took it over to the local title company for direction as to how the Residential Contract of Sale should be filled out.Matthew, this being my first contract signed besides my personal residence, I felt that being inexperienced and trying to mull over the lengthy Contract of Sale with a motivated seller was not the best approach.

@Lee Ripma Just my personal residence.

I'm considering selling my primary residence and am contemplating using them to save almost half on commissions.

There are exemptions under this federal law for homeowners financing their primary residence, those in the business of real estate such as landlords are considered dealers.

All of the current residents are month to month so I would ask them to sign a new lease upon purchase.

I grew up and currently reside in Dallas proper and work in McKinney and it seems like rentals are maxed out due to high property taxes.