Dear Real Estate Mustachians,
Impart me your sage advice. I would like to buy an investment property but am currently low on cash, with a low income. I have been doing some side work with a Real Estate Broker, which provides me a view into the distressed housing market. I am retired from the corporate world, but not fully FI yet. My home mortgage is paid off, and investment income combined with a side job are enough to pay my bills for 6 months or so while I remodel a house. I would like to use a home equity line of credit to make a 30% down payment on a fixer-upper, and borrow the rest either from a bank or family members. Would this work? Is it a good idea? What am I missing?