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Updated over 8 years ago,
Newby financing question
Hey guys,
I have a question, any insight is appreciated.
We have one rental property we purchased in April. Duplex purchased for around 30k w rehab and is now renting for 850 a month less 10% prop management. It's probably worth low 40's after rehab.
I would like to buy two more this year.
Financing questions:
- we have the disposable cash to buy one more... Should we use it or buy the next two in some other way? Mortgage w down payment? 401k? HELOC against our live-in home? BRRR process?
I don't know if the right thing to do is get creative right off the bat or buy w cash then save and buy w cash again. Our goal is buy and hold passive income and I would like to own 10/12 in the next 5 years.
Thank you for any and all insight.