Deciding On Next Investment

[Cortez Wilson]

Hello All,

I am a new investor and I'm trying to decide which way to go next. I own my primary residence and I have one rental property that's cash flowing very well. My overall goal is to have multiple rental properties in my portfolio as long term investments. I recently took out a HELOC to help fund my next property.

I'm trying to decide between getting a Hard Money Loan and using the HELOC for repairs or getting a Conventional Loan and using the HELOC for the downpayment/repairs.

The Hard Money route seems is a little more difficult but if I choose the Conventional Loan route, I would have to sit on the property for at least 6 Months.

My thoughts were to flip 2-3 properties to increase my cash before locking down my next rental property, so I can keep building my portfolio.

What have people with my same goals done to build their portfolio, with having the options that I have?

Thank you guys in advance!