Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 2 years ago,
How best to scale w/ $100k HELOC + $50k cash? (if already at 8 doors)
Currently at 7 doors, closing on 8th door this summer. Split: 2 multifamilies, 1 SFH. Market value ~ $1.7M. All cash flowing, mix of long term and STRs.
I have enough equity in 1 of my properties to pull out a $100k HELOC. In addition, I'd feel comfortable throwing in another $50k cash out of pocket.
How can I best use this to scale? My best case scenario would be to buy a 10-20 unit multifamily, at ~$1-1.5M (for context, there's a 20-unit MF that's been sitting in my market for 10 months at 1.6M). However, I'd settle for something smaller (i.e. a 5-plex) if that's all I can do, but I definitely want to keep scaling this year.
How would you more experienced investors utilize this $100k HELOC + $50k cash to scale?