Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

2
Posts
0
Votes
Trey Franklin
  • San Antonio, TX
0
Votes |
2
Posts

Newbie looking for a little advice

Trey Franklin
  • San Antonio, TX
Posted

Hello BP my name is Trey. My family and I live in San Antonio, TX. I've spent the last 6 months obsessing over BP podcasts and blog. I've learned so much in this time, but realize I'm just scratching the surface. I am very eager to move on my first deal. I am looking for a little advice for my particular situation. 

Here is a little information about me and my long term goals. Ideally, I would like to buy and hold in order to build passive income. Listening to a recent podcast I really fell in love with the idea of Airbnb. Living in San Antonio we have a large amount of tourist come into town every year, so I feel I live in an ideal market. That being said I worry that if I buy my first property, it will be one and done. Meaning that if I purchase this one property then I won't be able to finance another one in order to scale this. That leads me to think that maybe I should start by flipping so that grow my capital faster. I bought a single family house almost 4 years ago that I still owe about 150k on. The house across the street with the exact same floor plan sold for 195k about a month ago. I'm open to the idea on selling our house. We could live practically rent free for about a year with family after selling. The other option could be to rent out our house. We could probably get about 1500/mo with a mortgage payment of about 1250/mo.

My question is what is the best way to leverage what I have? HELCO, Cash out refi, sell, rent? 

Thanks in advance. This community has been great and I can't wait to learn more.

Loading replies...