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Updated about 11 years ago, 12/18/2013
Best Plan For A New Investor?
For a new investor with good credit but limited cash to start out with, what's the best path for building wealth and being able to finance multiple properties (say 1 property a year)? I don't want to get myself stuck in a situation where I invest in my 1st property and then can't do it again for a few years. If I start out with a buy, refurb, and hold as a rental property, would I be able to use the equity in that home 1 year later to do a home equity loan to fund my 2nd property down payment on a 2nd property? And could I continue to do that somehow? Or would it be smarter to fix & flip so I can get some more cash in my pocket for my 2nd deal. Or are there any other ways of financing multiple rental properties that I haven't thought of yet? I just want to be smart and plan ahead before I make my 1st leap !