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Updated over 5 years ago,

User Stats

42
Posts
10
Votes
Mike M.
  • Rental Property Investor
10
Votes |
42
Posts

Newbie investor question

Mike M.
  • Rental Property Investor
Posted

Hello everyone! I was introduced to BP a few months ago and I have read and listened to as much as possible in my "free" time. I'm a busy professional and initially considered picking up some turnkey properties, but in order to keep access to my cash I think BRRRR is the most efficient use of my money. With that, I think the most efficient way to BRRRR is with a cash purchase and cash rehab. I have about $70-80k accessible in IRAs that I can pull out, $20k in savings and just over $100k in equity in a rental property. What makes the most sense for me to use for a purchase- IRA cashout? HELOC? Or just go with conventional financing? I look forward to hearing from you and thanks for letting me be a part of this amazing community! Much appreciated!

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