Newbe strategy input please

[Chad Avila]

Hello all, what a great place this is to learn.

I have been reading and thinking past 2 yrs about realestate.

Then made up my mind 6 months ago ok I'm doing this. Then this winter worked side by side with a guy retiring and he turned me to bigger pockets and podcasts... wow .... mind blowing what I've learned since then.

Today, my strategy is to work my current career field, buy houses here in wa to flip and use profit to put down plus reserves for investing in rentals out of state.

To fund this adventure I'm signing on my first heloc on our primary home for 189k @6% went for interest only for first period. Since itll be paid off once flip sells. And use hard money lender to purchase houses to be flipped.

My goal is financial freedom from my daily career, through cash flow . I'm in construction now so I'll do te first few flips with wife and kids but want to get process down before hiring it out and managing flips.

Anyhow so far this is the plan and sign heloc this tuesday, then I'm not practicing running numbers I'll be doing it to actually put offers in. Pretty stoked!

I would appreciate any input or criticism to learn more.

[Joe Villeneuve]

Actually, what you should be doing is banking your initial profits from the flips until you get enough built up to replace the HELOC. Now your seed money is free. Continue to flip, but use your cash instead of a loan for the flip property, and the flip profit starts to buy your rental properties.