Updated almost 4 years ago on . Most recent reply
Real estate advise with inherited residence
I recently inherited a 3b 3bath brick home single family dwelling. I am rehabbing it. It will appraise at about $100 k and has no debt. I was planning on renting it for one year to show income on it and then doing a 75% home equity loan to purchase more small 2 bed 2 bath dwellings for about $50 k each putting down 20% on each one of them.($10,000) so 7 dwellings ish . Can anyone give me advise or does anyone have a better idea for a better real estate plan for investment with $75 k of home equity. For a beginner.