Diving in and took closing on my first house

[Aaron Rushton]

Hello everyone! I'm excited to share that I've finally taken the plunge into real estate after a long search! I'm closing on my first single-family home in the Memphis area, which I plan to turn into a long-term rental. My goal is to place tenants soon and then move on to my next investment.

While it sounds straightforward to rinse and repeat, now that I have this property, I'm wondering what my next steps should be. I want to minimize my out-of-pocket expenses and am considering using a HELOC on my home or leveraging the equity from my first rental down the line. What suggestions do you all have?