How does one graduate?

[Marco Morkous]

So I’ve bought my first property. It has appraised much higher than purchase price which allowed me to get an appraisal line of credit. This allows me to use that money for rehab. I will then refi and cash out. All in all, I will have made money in this deal. Good deal for a first timer.

I’m so excited that I can’t stop thinking about how people graduate from small rentals and duplexes to bigger projects like 10 unit buildings etc.

do lenders just trust them more because they own a few properties or do they usually have to sell all their small properties first and 1031 exchange to buy the 1 10 unit for example?

[Jaysen Medhurst]

No need to sell your smaller properties, @Marco Morkous. Probably a good reallocation of capital, though.