Help me wrap my head around....

[Alex Knights]

So as I'm processing everyone's responses from my introduction, here are my challenges (in my head):

1. I'm using a HELOC so buying and holding a multifamily unit is not the most desirable. I should BRRRR and pay back the HELOC, repeat. Do I have that right?

2. If I have it right in #1 above, my next challenge is due to being interested in investing out of state, turnkey properties would be more desirable. That being the case, how feasible is to have a BRRRR strategy on turnkey properties given the desire the pay back the HELOC, then repeat?

I'm guessing it is possible to buy and hold on a HELOC but scaling up would be problematic. Wondering if it makes sense to partner up for some flips first using the HELOC, build up some cash, then get into the multifamily investing.

Your thoughts are welcomed. 

[Andrew Beaver]

My initial thoughts here are that you should consider what the definition of a turn key property is vs what the BRRRR strategy is.. In my mind they are complete opposites and impossible to do together. Turnkey you're essentially getting a property that requires no effort outside of putting a person in the unit. BRRR requires finding a property you can rehab and build sweat equity to the point that your refinance will generate excess cash. If a property cannot be rehabbed and is truly turnkey, you won't get that extra money. I may be wrong in what you're trying to do and you/others can clarify for me but just my two cents... I like your idea of doing flips if you are able/have the time.. I'm considering that as well but I'd prefer to get into the multi family world of buy and hold