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Updated about 8 years ago,
Making my equity work while on deployment
Hello Bigger Pockets Community!
I am pretty new to Real Estate investing, but I currently have 3 units (1 MF, 1 SF). My first house, which I owned for a few years before I knew anything about real estate investing, has quite a bit of equity built up and has appreciated about 30% just in the last 2 years, but it's cash flowing just below the 1% rule, so I'm considering selling it, and putting that equity for better use. (I've realized that here in Texas 1% doesn't quite cut it)
Now that I have read about a dozen books on real estate investing (including all the BP books) I am in a better position to make sound choices. My only hurdle is I have a deployment coming up in a couple of months(I'm currently in active duty in the military) and I won't be able to be as active in investing as I hoped. After doing a lot of brainstorming, the best I could come up with is being the financial partner of a few flips while I'm away. Is this a good idea? Does anyone have any experience being a partner to flips from another part of the world? What are the pros and cons you can think of? Also if this is a good idea, does anyone know any reputed flippers you can recommend? Thanks in advance!