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Updated almost 7 years ago,
Selling to buy another property... Is it reasonable?
Hello BPers!
So, I was looking at my property portfolio growth plan I made when I was brand new to real estate investing and I noticed that my plan was missing a very important part... How am I going to afford the down payments on this properties? I don't know how I managed to miss that but I did. I spent an 30 minutes staring blankly at my computer screen, trying to mentally refer back to what I had read in Brandon's book "The Book on No & Low Money Down Real Estate Investing".
Then, I started to wonder, "Why couldn't I just sell the house later on and use the money to buy a house?" Now, this is where I need help from you guys. I was looking at selling at the two year mark but the rational side of me says that there's no way I can make anything off a ~$100k property in just two years. Then again, I've never sold a property before so what do I know?
By the way, I'm not making a lot of cash from work. Enough to live, yes, but not enough to afford a 20% down payment which is why I'm trying to find a different route.