What do YOU think of my strategy???

[Starr Ango]

I am doing my business plan and would like to know what you think about my strategy  for getting our first 3 real estate properties.

We would like to move in to a multi family ( we would rent out the other side, so we can live rent free). We would then buy a inner city home from the auction and use the home equity line of credit to put a down payment on a multi family home in a more desirable location. 

Is it hard  get a home equity line of credit from a home bought at the auction?

Should we look at homes from Hud or Foreclosures to make this strategy work?

Any help would be great.

[Chris Music]

Starr, 

I'm not a buy and hold investor but sounds like a solid plan to me. In regards to taking money out of the first SFH, I don't think it matters where you buy it, as long as you own it free and clear and have clean title you should be able to pull some money out. Be careful at the auction, that's usually a game for experienced investors, make sure you due your due diligence, you don't want any surprised when it comes to liens or repairs.