All Forum Posts by: Frank Gamez

@Justin Franklin To be successful in a game of chess or any sport for that matter, you need to be a few steps ahead, something called anticipation. Investing in Detroit sounds easy enough, and appealing too. Who wouldn't want to cashflow 1k per unit, but then what happens? end of story? Each letter in BRRRR is just as powerful as the previous one, so I think you should think about the 4th R in the acronym. How are you going to repeat the process if you tie up all your money in Detroit homes that don't appraise enough for the next deal.

Just something to chew on.

@Brandon Cook This sounds like a sane strategy, especially if paying down the rental with the 70K will allow it to cashflow. One thing to check before you pull the trigger is to find out if you're allowed to take out a heloc on a rental property i.e. not your primary residence. I know here in Texas, we can only take a heloc out on a primary residence.