Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Goals, Business Plans & Entities
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 11 years ago on . Most recent reply

Account Closed
  • Involved In Real Estate
  • New York City, NY
2
Votes |
25
Posts

Best Plan For A New Investor?

Account Closed
  • Involved In Real Estate
  • New York City, NY
Posted

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 !

Loading replies...