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Updated almost 9 years ago, 01/18/2016

User Stats

4
Posts
0
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Scott Boroi
  • Investor
  • Brookhaven, PA
0
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4
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The next step

Scott Boroi
  • Investor
  • Brookhaven, PA
Posted

I'm 23 years old, I've recently purchased my first house in Brookhaven, Pennsylvania when the market was right. I paid $110,000 it's 3 bedrooms, one bath, I've done some minor cosmetics to get it to where it's livable. The house has put me in a position to only be able to save minimally so to expedite the process I've decided to add a bathroom and update the kitchen in the next 2 years and then take a line of credit to purchase a multifamily or flip depending on the options. I'm expecting about a $40,000 credit. My question is, while my mother is a great agent who thinks she knows what I should do next it helps to have the advice of the experienced, should I go with my current plan or is there a better path I should take on my journey to passive income? 

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