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Updated almost 2 years ago,

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1
Votes |
3
Posts

Rentals or Keep Saving for BRRR?

Account Closed
Posted

Just looking for some opinions on what to do. Currently rent right now looking for my first property(multifamily). Currently have 20k liquid, about 22k in investments I can liquidate. Cars paid off. Zero debt. Score is about 770. Was thinking of an fha or even conventional to get into a multifamily and house hack. I'd like to get more multi family properties eventually after the first and not have to save up a down payment each time. I know it doesnt happen overnight but wondering if i should just keep saving and buy something cheaper and try to rehab it and do the brrr strategy and use the equity to scale faster? I do have a good job and can save up for down payments just seems like it would a very very long time to reach my goals having to start over and keep saving a downpayment of 20 percent. I guess what im asking is, is it better to use all my savings for one property or maybe save some more and try to go the brrr route instead and get more out of that money instead of using it all as a downpayment for one property and starting over? Thanks in advance any feedback in appreciated!

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