The line of credit would give full access to your equity instantly and you would only pay simple interest on the amount borrowed at any given time.

What should I expect as far as timing where I will have the capability to make my next purchase.

Maybe it's a personal choice, or it depends on which state you're conducting real estate business.Originally posted by @Anthony Wick:I’d probably shorten the letter a bit.

The second series was just established at the beginning of January and after going through all the steps, FCB stated they weren’t comfortable with the series and did an exception for us the the first time.

Hello All 👋🏼I am a Property Manager looking to connect with like-minded real estate enthusiasts.

If I allow them, they must own real estate and have impeccable credit.

The terms of the financing (interest rate, balloon payment timing) need to make sense for your exit strategy.I would recommend getting a detailed inspection to ensure there aren't any major issues you're overlooking.

@Gene BattleCheck with your accountant for a recommendation or ask for recommendations from your local real estate investors association.

So the question is going to be where you think rates will be in 5 years and if it will warrant a refinance at the time. 

Russell, the property owners terms of note secured by the real property, unless in foreclosure, have little to do with the tenants obligation.