Best option to take ?

[Jesus Hernandez]

Hello BP community...

I’ve been reading about real estate investing for some time now and I’d like to see what would be the best route for me to get myself into it.

I own a property already.. paid for. It isn't valued much as of right now due to it needing repairs. As of right now I believe it is worth 70K. ARV 150K. Would it be a better investment for me to get a HELOC Or any loan to improve my property or would it be wiser to get HELOC and reinvest it into another property? I've been reading about BRRR and wondering if with this it is a possibility.

Any information/guidance would be appreciated. I am located in Atlanta,GA if that changes anything.

[Tommy Adeoye]

Jesus,

Congratulations on taking the first step. 

The best route really depend on what your goals are, what niche and strategies captures your interest.

Do you live in your currently owned property ? Do you see appreciation potential for your current property? Would you partner with someone else ? 

I'd assume you don't live in this property and your numbers are accurate ( You want to be really sure they are). If this is the case one of the many strategies would be to HELOC , fix this property up , pull the equity and invest in the BRRR.

All hopes are not lost if this is your primary place of residence. Another way to go would be to fix your current residence, then house hack a multifamily using an FHA product which would require 3.5% down and then use the HELOC from your current residence on a 3rd property(next BRRR).

There are many other options out there.