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Updated over 1 year ago on . Most recent reply

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14
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Andrea Lopez
9
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14
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Bought my first multi family - where to go from here?

Andrea Lopez
Posted

Hi BP fam, 
I’m closing on my first multi family soon and but am a first generation homebuyer and am doing this completely on my own at 26. I know the little I know but doing some research online, but know I probably have to do some real self-education from here.

it’s a 2 unit with a remodeled attic which I will be living in, and renting 1 unit while slowly remodeling the second one. 

 anyone else been in the same boat? Would really appreciate any advice. 

Most Popular Reply

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391
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217
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Ryan Muska
  • Lender
  • Saddle Brook, NJ
217
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391
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Ryan Muska
  • Lender
  • Saddle Brook, NJ
Replied

Definitely put in the work with that second unit. Then, in a year, move into another one while keeping possession of this current one. Cash-out refinance/HELOC the first for the down payment on the second. Rinse and repeat

On paper, this sounds really easy. I'd love to provide some insight and connect!

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