Building A Business Plan

[Trevor Brown]

Hey BP! Seeking advice here! So currently my family and I are renting, and honestly quite tired of it. So after saving for a few months, we got pre approved for a 5% Conventional loan through a local credit union. We're meeting with our Realtor later today to get this thing going. So as of now, my plan to early retirement is buy & hold. This is my first time purchasing a home and I'm having a hard time trying to decide on my strategy. I trying to buy a primary residence to use as a kickstarter to my real estate investing. So my thoughts were to buy a primary residence, live in it while saving for a new home, the rent it out. But this seems be the very slow route. My other thought was to find a livable home with as much equity as possible, and using a HELOC to make the downpayment on a second. I really like the idea of "the stack" that Brandon Turner talks about, but I'm also worried about the market taking a turn downward and the banks freezing the HELOC. Any advice would be much appreciated. I'm still reading and learning as much as I can, but books don't tell the same as personal advice from another investor. Thank you in advance!