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Updated over 5 years ago, 03/07/2019

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Hard Decision for me trying to figure out my next move

Posted

i bought a multifamily for $180k and i am house hacking and cashflowing $120 per month, I have $7k cash, should I use it as a down payment on a $60k loan to turn my 1000 square feet basement into a 1 bedroom apartment and stay down there and rent out my old floor (that puts me at $240k for a 3 family, top floor $1500, second floor $1250, mortgage $1,379 plus the $500 per month payment for the basement loan)? or should i use that $7k as a down payment on another fixer upper not exceeding $60k through hard money lending and do the BRRR method.

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