What’s best for first investment property?

[Laura Srocki]

What’s your opinion?

I'm thinking a single family residence where I'm all in at 75% ARV. Then to refinance/ put a mortgage on it and be able to recycle the money I put in. ( BRRRR) Oh and I'm only starting out with 50k cash 😂 and maybe 40k heloc. Although I would not max out the heloc, I'd rather keep it for emergency use only.

Then then use the cash out to put a down payment on a duplex then maybe a four plex etc. I’m only trying to accomplish a min 3k monthly cash flow to eventually be able to retire in 10 years. In the meantime reinvesting the cash flow or building reserve. 

My thinking is a single family under market value and be able to add value might be the best starting point rather than starting with a duplex or some other smaller multi family since a single family is easier to appraise etc