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Updated over 2 years ago,

User Stats

113
Posts
35
Votes
Joel Lazar
  • Investor
  • Kissimmee, FL
35
Votes |
113
Posts

What strategy would you recommend?

Joel Lazar
  • Investor
  • Kissimmee, FL
Posted

Hi everyone! I want to scale up faster with Multi family. I have 3 properties. About $400k in equity between the 3 of them. One str one ltr and one primary home. I have zero debt besides the mortgages with rates from 2.49 to 3.49. I have $50k heloc with zero balance and might be able to get that increased. Of course rate is variable. Now I can start building my cash up again but right now I am cash poor. But I still want to do a deal. My credit is 767 and climbing back to 800+. W-2 income qualifies me as a accredited investor. I love my w-2 job but it doesn't leave a lot of free time to manage my own properties. So whatever I do, it has to be managed by a 3rd party. However, I don't want to be a LP in a syndication until after I nail down my first Multi-family property of 4 to 10 units. I want to own in a landlord friendly state like Florida or Texas. What strategy would you recommend to get this first multi family deal done?  Thank you!!

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