Help On My Next Step

[Jose Guzman]

Still not sure on the next step to take and hoping to get some ideas. Me and and my brother purchased a home about 2 years ago for $90,000 and we have not done anything after that. We did spend another $5,000 on flooring and misc repairs. We paid it off and it is now ours 100%. We have been blessed with our renter who calls us before the due date to go pick up the rent. The house has an ARV of about $100,000. We have not had it appraised but we did look it up on our county appraisal district website and it about $100,000. We eventually want to start with a small multi-family and build from there. We are not getting any younger so we are looking for ideas. Thanks, Jose

[Mike Dorneman]

I’m assuming your question is related to the first step of funding your next deal...? If so, begin working with local banks to determine who best to refi- cash out on your current property to fund the down payment and rehab of your next property. BRRR.