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Updated about 7 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
Chris Pena
  • Investor
  • Brooklyn, NY
1
Votes |
8
Posts

Sell my primary home to buy a 7 unit multi

Chris Pena
  • Investor
  • Brooklyn, NY
Posted

OK so I have about $400k in equity in my primary residence, I own 3 other investment properties (financed) and buying 4th this week.  I am interested in buying a 7 unit multi but, I don't have the capital to get it unless I sell my primary residence and move into a rental temporarily . I do have a family which will be a pain to move and all but, I am stressing having this equity tied up when I could be using it to grow my portfolio.

Thoughts? Questions? Am I crazy?

Thanks, FYI I am a BP newbie :)

  • Chris Pena
  • Most Popular Reply

    User Stats

    2,325
    Posts
    911
    Votes
    Antoine Martel
    • Rental Property Investor
    • Miami, FL
    911
    Votes |
    2,325
    Posts
    Antoine Martel
    • Rental Property Investor
    • Miami, FL
    Replied

    We are doing the same thing.

    Sell your primary home, use that cash to invest in real estate. Find a nice rental somewhere that will make it an easy transition.

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