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Updated about 6 years ago,
23 years old,home paid off, what would you do?
My wife co-own a 10 housing unit and 8 storage unit portfolio. The goal is for the properties to pay themselves off with positive cash flow in time so each partner has 3k in passive income. Each partner equally contributes capital for down payment of the next investment.
We just paid off our personal home, we are personally debt free and have access to our 100k HELOC. We will continue to save aggressively, and intend to purchase cash flowing assets.
In light of our current position. What effective options are there for us to accomplish financial independence and passive income rapidly?
I’m thinking the BRRRR strategy with HELOC would be effective and choosing to invest independently from the partnership? Any thoughts or creative advice?
Thanks in advance