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Updated about 9 years ago,
Rental, Flip, Rental , Flip.... Or another preferred method ?
Good Evening,
I read sometime ago about a recommended method , regarding Buying rental properties , as well as flipping houses .
I can't remember what the actual method was , but I " believe " it was ...... Flip, Flip, Rental, Flip Flip, Rental, .... wash, rinse and repeat
What I'm wondering though, is what do other members / Investors recommend, if I'm starting out currently with having jut acquired a Future Rental property ..... with my goal being , to purchase and aquire Rentals .... But along the way to purchasing Rentals , I know that I will need to Flip a few houses, in order to get money to purchase the Rentals ( for the 20% down , as well as the costs for repairs in cash ).
Since purchasing a property as a Rental, I won't be allowed to do a Cash-out refi. for 6 months to 1 year , before I can tap into that Equity and use it for the 20% down/ repairs.
So by Flipping a few here and there , this would give me quicker access to the money needed for the 20% down and repairs.... correct ?
Hoping to get some feedback please and guidance on what steps to take next, since I have my first Rental... just need to know what to do next ( another Rental or to do a Flip ) , so that I can continue on in the pursuit of building up a portfolio of Rental Properties
Thanks for the help everyone