If I refinance the untapped heloc at the same time I’m under contract and the loan is processing, will that affect my credit or debt to income ratio?

You will have equity over $ 1 Million.This is why real estate is one of the best investments you don’t have to quit your job, you do not need any special degree, or skills.Now imagine, if were able to purchase 2-10 properties over the next 10 years, what would your financial situation look like.Real estate is the Magic formula that helps you get massive compounding and consistent returns over the long term with the help of debt leverage.9 Be prepared for problems.Investing real estate has several challenges, problems, headaches such as your tenant not paying your rent for few months or trashing your place.

She cannot refinance by herself because her income does not satisfy the necessary debt to equity ratio.

If you plan to hire a rental broker have you consider how the debt service coverage ratio might be effected by paying a one month broker fee

Cash out refinance the property (trading equity for debt) and pay out the cash to yourself and your business partners.2.

It really eliminated the hassle of tracking down rent payments almost entirely.

One thing I think I did learn yesterday is that based on my original calculation, putting the $250k toward the investment portion would result in taxable book on the mortgage payoff of $35,000 because no equivalent debt will be left on the investment portion (only the mortgage debt acquired to obtain the residential portion of our purchased property).

I would prefer to make up the down payment of friends and family and debt for the rest.

The greatest thing you could do at this stage in your life is choose a career path that doesn't involve taking out debt.

The lender said that my Debt to income is too high and causing me not to qualify.