All Forum Posts by: Julian Hendrix

I am currently buying a Personal Care Home. I have about 90% of the price we agreed upon (200k) of the land contract paid off. I am currently running the home and it is profitable. After it is paid in full, the deed will be in my name.

I am looking to use the property to fund more properties using the BRRRR method. And paying those loans down with the money from the business. My problem is this: I am unsure how to get money out of the equity/building that houses a business. Does anyone have any idea on how I can accomplish this?

I have several more months before I pay off my cc debt and the last of the payments on the building for the business that I bought. After all is said and done I should have an extra $4500per month of cashflow plus whatever my business building appraises for (around 150k) to use toward buying 1 or more multi-family apartments that are selling in the area. My question is what is the best way to leverage the building I will out right own, so that I can buy more assets in the area. Should I go with a HELOC, or get a mortgage on my building to buy more places or it there a better route I could be taking? Also what should I be doing to prepare for when I'm financially ready to start?

So here is the situation. I have 18 more months before I pay off my cc debt and the last of the payments on the land for the business that I bought. After all is said and done I should have an extra $4500per month of cash flow plus what ever my business building appraises for (around 200k) to use toward buying 1 or more multi-family apartments that are selling in the area. My question is what is the best way to leverage the building I will out right own 1.5yrs, so that I can buy more assets in the area. Should I go with a HELOC, or get a mortgage on my building to buy more places or it there a better route I could be taking?