All Forum Posts by: Courtney Downtain

Mike H. Your response was just what I was looking for(sorry for the late reply). Thanks so much for sharing. That’s amazing how you have been able to make that HELOC grow so significantly. That’s exactly my goal as well. I want to acquire as many rentals as I can to replace my current income and then some. Thank you!

Thanks everyone for your great input! It is a slab foundation with city water and I do have electricity in the house, so I’ll be sure to keep the heat on. I appreciate all of the super helpful and quick responses.

Hi BP team I purchased my first rental property a couple of months ago in the Houston area and I am in the process of doing a small rehab before I rent it out. I opted to not turn on the water since no one is living there and it’s expensive for that neighborhood to have water turned on. My question is, are the pipes at risk of bursting during the winter if there is no water running through them? How can I be proactive in protecting the pipes? It only gets to about 20 degrees at the lowest in Houston and usually not for long. Any advice would be great!

Frank Jiang so the bank does nothing when they see that the equity used for the down payment is no longer available? Will it only matter when I go to sell the house?

Hi BP team Question- this is just hypothetical, What happens if you take out a home equity line of credit on your home that you have $40,000 worth of equity in, in order to use for a down payment on a second home, and then the market crashes? What happens to your mortgage?

Marcia Maynard thanks for letting me know! I'll double check where I am posting next time. I appreciate it.

Thanks for your input Scott Weaner. I plan to self manage for the first few months, but that's not my long term goal.

Hello BP team!

I have put in a few offers for my first rental property in the Spring TX area. Fingers crossed the most recent offer goes through! If i do get it, I want to have a property management company lined up. I have run the numbers multiple times and the property will cash flow even with management. Can anyone give me some suggestions on a company that they have worked with? There are multiple in this area to choose from but I want one that has good references. Any help would be greatly appreciated! 

- Courtney 

Thanks Jessica. I wasn't aware Fannie Mae didn't require owner occupant. I would prefer to rehab and rent out so that sounds ideal. I'll look into it.

Hi BP team I am looking to purchase a SFH in north Houston area but all of the properties I am coming across require some rehab. I am interested in using a 203K FHA loan to purchase and rehab at the same time. Can anyone recommend a good lender in the Houston area that I can contact for this type of loan? Thanks all