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Updated almost 3 years ago, 01/11/2022
Continue growing portfolio
Hello everyone. I am a Real Estate Rookie and just getting started. I wanted to find out how to scale growth and continue to add more properties to my portfolio.
I took out a HELOC to pay for the down payment on my first 2 properties (Still under contract).
I am putting 25% down on each so I have built in equity.
These 2 properties are already rented out and I should clear about 200/month each after Mortgage/Insurance/Management/Taxes/etc.
I would like to replicate this process again in the next 3 to 6 months.
Is it even possible or am I being un-realistic in my timeline? Should I wait a year or more to build more equity in these properties and then do a cash out refi or take out a HELOC on those properties?
Ultimately I would like to be able to acquire at least 1 property per year minimum, more would be better if possible.
How have you guys continued to scale your growth?
Thanks for any and all replies.
Douglas