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Updated about 5 years ago on . Most recent reply

User Stats

4
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0
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Scott Boroi
  • Investor
  • Brookhaven, PA
0
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4
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Personal finance vs. Investment finance

Scott Boroi
  • Investor
  • Brookhaven, PA
Posted

So I purchased my first investment property two years ago and have been slowly rehabbing it while house hacking with a couple of roommate tenants. Through this process I have been putting every dime I make into this house and now that it's done I am in a position where I could easily take a large amount of equity out and begin moving quickly in real estate investing (I am most interested in the BRRRR method). The problem is this entire process has put a burden on my personal finances. So I guess my question is, for investors that may have gone through it, should I spend the next year getting my personal finances under control before I start investing? I know that it should be a separate issue but I'm concerned about stressing myself out too much and taking too big of a risk since right now I don't have a personal savings.

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