Updated over 3 years ago on . Most recent reply
Ready to buy 2nd Property
Investor newbie here! Brief history- I started airbnbing rooms about 10 yrs ago in Puerto Rico- moved back to Delaware bought my first home with no money down usda loan. I’ve been renting that out at 3k per month to travel nurses- and I’ve been renting a room or apartment for myself. Cash flowing around 1500 on that single family home. I’m now living in Florida and ready to buy my second property and not really sure which way to go with this as I don’t have a strong W2 salary at 55k p/y - and no money saved for down payment. I have been preapproved for a heloc between 70k-85k. Wondering where to go from here! My airbnb profile is a solid 250+ 5 star reviews, also as a teacher I have a significant amount of time off in the summer and holidays - so plenty of time to put in some sweat equity. I’ve been doing my own maintenance and home repairs as I’m able. Thoughts, suggestions, opinions are welcome!