What do I do next

[James Harryton]

Hey, I recently bought my first rental property in Polk County it doesn't cash flow enough for me to have a property manager so I would have to manage this myself for the time being, however in about 6 months I would want to get a HELOC on the property and use that as a down payment on maybe a multi family and then rinse and repeat, I was wondering if this sounds reasonable or would I have to do something else thank you so much

[Deandre Brown]

How much equity do you currently have in the property, and do you expect it to appreciate enough in the next six months to qualify for a HELOC? Also, be cautious when using a HELOC as a down payment on your next property. It's important to ensure that you can cover the HELOC payments from the income generated by the new property. Are you planning to purchase a value-add property, or are you looking for something turnkey? I would suggest considering an investment that could help you pay off the HELOC quickly, given the high interest rates typically associated with them. Just a few things to think about.