Do I keep my SFR and get HELOC to Invest in Multi-Family?

[Greg Reese]

Hi,

I'm new to investing and want to start purchasing small multi-family units. I purchased a SFR in Corona, CA. June of 2020. I have about $150,000 equity. Should I sell and use the cash or refi with a HELOC and use that to purchase a new property? FYI, planning on moving to Texas sometime in the next 6-24 months. Thanks.

[David Ginn]

Hi @Greg Reese
Welcome to Texas!

We have buyers, lenders, sub to negotiators, attorneys, real estate brokers, contractors, acquisition assistants, who all work together to take down deals in Texas.

We currently track over 70 counties in the state of Texas. We are in Dallas, San Antonio, Austin, Houston, and many other areas of the state.

If you have questions or need answers about the area or investing just shoot me a PM and we can chat.

Also, I believe there will be a major market correction that will affect you in your state. My strong advice is to sell NOW and pull out all of your equity. Then turn it into cash so you are ready to take advantage of the down cycle.

Best Regards