Hi, I bought a property on a 1st loan mortgage foreclosure.

The benefit of real estate is the 5x leverage even at 8% loans, will nominally return 18-26%.

My name is Michael and I am seeking advice on how to go about my first purchase.I bought my first property as a primary residence for $258,990 with an FHA loan at a 4.875% interest rate. 

We have it under contract to purchase cash for $1,300,000  and only want to put $600,000 of our capital down and find a lender to loan us the $700,000.

If it isn't for a bigger home, better school, work, to be closer to other family, etc then you could switch to a conventional loan. 

Should we open a zero line of credit (through home depot, credit cards, loan?)

When you are looking to borrow the down payment that loan will likely not be paid back quickly.

There are some unique loan options available for STRs--feel free to use me as a resource for any lending questions! 

Hey BP family,In the process of putting in offers for a SFH, with a primary residence loan.

What about other potential loan options like 401(k)?