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Updated 6 months ago on . Most recent reply

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Hardy Davis
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How to turn equity into cashflow.

Hardy Davis
Posted

Howdy BP community. I had my first house hack go very well in a class A neighborhood. Since then I’ve moved out rented it out and working on a live and flip for  my second property (sf) so I can have a house of my own with my girlfriend and make some more capital from it. I have about $500k in stocks and about $600k in equity in my single family house that I rent out. I’m very grateful and lucky my investments have built so much equity and capital but I would like to move it into monthly cashflow so I can work away from a w-2. My area (Anacortes Wa) doesn’t seem like a good market for multi family. What are the next steps you all would recommend to transfer equity into monthly income. Also if you can be specific for finance options. My guess is to 1031 into an 8 unit. Thanks for all the help and guidance. 

Most Popular Reply

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Gino Barbaro
  • Rental Property Investor
  • St Augustine, FL
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Gino Barbaro
  • Rental Property Investor
  • St Augustine, FL
Replied

@Hardy Davis

I would find a market where there is more cash flow, and possibly find a partner in that market who can be the boots on the ground. If you're looking outside your market.

If your market is more of an appreciation market, you can do the same with an 8 unit. Buy it, fix it up, and build up equity to reposition into a bigger asset.

With the profit from the house hack, you do have certain tax exemption. You may not have to 1031. 

I would start looking for partners and different markets to invest in. My NY market did not cash flow, so I transitioned into a market that did.

Gino

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