Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Innovative Strategies
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

35
Posts
2
Votes
Sunshine Bizz
  • Jacksonville, FL
2
Votes |
35
Posts

Building my Rental Portfolio - One step at a time - Thoughts?

Sunshine Bizz
  • Jacksonville, FL
Posted

Build my Portfolio - One step at a time - RE experts, please help wake me up if i am dreaming!!!

Background: Credit scope 722, wife has better. Income is good (over $200k) with solid jobs. Have funds in the bank but would like to build foundation that  i can leverage over and over again. 

Step 1 --> Get unsecured lines of credit in the amount of $150 while i have a job and have cash reserves

Step 2 --> Possibly get HELOC to get even more leverage while i have a job and have cash reserves

Step 3 --> Get some deals going with high % interest rates with crowd funding so i have established myself enough and can leverage down the road even more while i have a job and have cash reserves

Step 4 --> Buy $100k to $150k properties in B neighborhoods having net ROI of about 7% that banks would not have issues re-financing down the road or take it in as part of portfolio loan down the road while i have a job and have cash reserves

Step 4 --> Once i have build enough equity in these rental properties, now i try to re-leverage my HELOC, Credit Lines and Crowd Funding to keep expansion. 

Yes, i can buy properties right now with cash but i want to establish my profile that has Crowd Funding, HELOC and LOCs so when i really need the funds to grow, i have an established history and profile that is strong enough to help with next wave of my growth. This is when i wont have too much liquid cash and maybe jobs are no longer there.

Appreciate any guidance guys, i am new at this and trying to line up the right sequence. 

I struggle here quite a bit because some of the responses i read here would say "it depends on your situation". I have shared above my situation and would love to get your investment advice. What would you do in my shoes?

Loading replies...