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Updated about 4 years ago,
How to accelerate growth?
Hi Team,
Some background: This year bought my first investment property(duplex) in Chicago suburbs. It all went well, its rented and cash-flowing now. The numbers are good and no concerns so far. Bought second property(primary residence 203k duplex chicago): the renovations are in progress. Also, have a 6fig job and good credit.
My question is how to accelerate the growth. I will re-fi my investment home and expect to get back about 25k. Can have about 10-15k more of my own. How to get a bigger property? Should I do a fixer-upper 6-unit with hard money and try to BRRR it? I saw some private lenders offering 90% funding of purchase and 100% rehab costs. Is such a deal leveraging too much?
Appreciate your answers
Thanks
Santi