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Updated over 5 years ago on . Most recent reply

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James T McBride
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Buy first BRRR with your personal residence equity

James T McBride
Posted

Does it make more sense to pay off your personal residence, or try to refinance out some equity to buy your first BRRR property?

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Dan Weber
  • Realtor
  • Portland, ME
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Dan Weber
  • Realtor
  • Portland, ME
Replied

That is an extremely broad question. Someone would need to know much more information about your personal financial situation to give a specific opinion. However, I would determine what exactly your goals are for the next 1, 3 and 5 years financially and how you can achieve those goals through real estate. BRRRR is a great strategy to use and a a refi/HELOC is a great tool to use to get there. Figure out what your goals are and work backwards to make a plan how to achieve them.

  • Dan Weber

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