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Updated almost 10 years ago on . Most recent reply

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Ryan Cannedy
  • Daytona Beach, FL
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Expanding past two properties (Buy & Hold)

Ryan Cannedy
  • Daytona Beach, FL
Posted

I'm curious about how to expand past two properties doing a buy and hold strategy. If I have my primary residence and I pull the equity out of that with a HELOC or something of the sort, then I turn around and buy another property for say about $50k and get a conventional loan with 20% down (so 10k down). How do I move on to the second property if, for instance, I've exhausted all I can take out on a HELOC and I don't have another $10k to put down for another conventional loan? What is the best course of action here? is it just to save up for that $10k or is there a quicker strategy to use for buy and hold (i.e. flipping or wholesaling).

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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
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Mindy Jensen
  • BiggerPockets Money Podcast Host
  • Longmont, CO
ModeratorReplied

Welcome to BiggerPockets, @Ryan Cannedy. I find myself referring this article to almost everyone I respond to. @Account Closed wrote this article about BRRRR investing last month. Buy, Rehab, Rent, Refinance, Repeat. 

It is also reiterated in Podcast Show 121 with the Syrios Brothers. 

Check them both out. Good luck!

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