Remind yourself that once you get this thing rented, someone else is helping you pat down the mortgage, keep your living expenses low, you get to reap the rewards of appreciation and the tax benefits too.

Mortgage BrokersEngaging with a mortgage broker can be beneficial.

However, it did pay for the mortgage portion.

As a mortgage underwriter with a focus on Texas property , I can tell you that Texas homestead exemption does offer significant protection for homeowners, including those owning an owner-occupied homesteaded duplex.

It’s most likely going to be the case that another hard money lender won’t assume the mortgage just to buy you more time to sell it.

Here’s how it works and the tax implications:Financing Options:HELOC: A line of credit that lets you borrow against the equity in Property A as needed.Cash-Out Refinance: Refinancing Property A for a higher amount than the current mortgage and taking the difference in cash.Home Equity Loan: A lump-sum loan that borrows against the equity in Property A, typically with a fixed interest rate.Tax Deductions:Interest Deductibility: The interest you pay on the loan (whether it's a HELOC, cash-out refinance, or home equity loan) used to purchase or improve Property B can be tax-deductible.

If you can do this, you will earn business on a consistent basis.This is all from watching and listening to realtors over the years and many of these points are things that I do for my mortgage business on a regular basis.I hope this helps and have a good one.

I specialize in the Buy N Hold sector of real estate a real estate agent, mortgage broker, and financial planner.

I have another rental property free and clear and considered securing the funds by taking a mortgage out on it.

Hello All,I am thinking to purchase a fixer upper property using a hard money loan, fixing the property up and then refinance into a primary conventional mortgage loan and live in the house as my primary residence.