All Forum Posts by: Matthew Rich

 From one Matthew to another- You're Idea is great to start out with. I think you have a few options.

1) KEEP Your current house if you can. Obtain as large of a HELOC on your current home as you can First and capitalize on your equity depending on how much you have and if you have a lower Rate on your current home, keep it! THEN Rent our your current place to cover 125% (25% above) of your mortgage ( and if possible also above your HELOC Monthly payment if it were maxed out)- get a security deposit and then YOU move into a smaller rental for up to 3 months. THEN Buy another primary residence and if possible HOUSE HACK and have someone rent a room and pay part of your mortgage. That way you have 2 income producing properties and you are lowering your monthly payments to be able to save for the next property. Then Repeat for a few years, and/or buy either other investments opportunities but keep your current home.

Remember Buy real estate and wait. Don't wait to buy. you cannot time the market. so make the best decisions you can and know your KPI's and what works with your monthly expense goals. 

2) Sell your current home, RENT for your personal , KEEP the captial from it and then 

a)  Invest in Flips using Hard money or Gap funding (just know your numbers and area- if you've been a listener just find a good team to help you too!) and don't think too small in fear of failing. IF you know what you need to make on the deal after all costs, then don't negotaite with your self on them. stick to them and know what you are able to take on, for a project and know where you need help and hire the right help.

b) Invest in Multifamily/ Duplexes if you can and then look for value add opportunities. 

c) Find DSCR loans for properties that are already income producing. (kiavi may be able to help there)

d) Partner in on a deal- You work with someone who is reliable and trustwrothy who knows the business and join them in on a deal and bring the money to the table to get an % return and mitigate risk or an Equity stake and take on addtitional sweat equity but with someone who is willing to work with you and help teach you development, flips or buy and holds. 

And there are more options but also find your self  a GOOD REAL ESTATE TAX STRATEGIST  not just a CPA - you need one who knows how to maximize your income for being able and decrease your tax liability and most CPA's might know how to file your taxes for RE but in terms of being a valued member of your team,  a good CPA who knows how to be a partner in your buisness to advise you on corporate structures, types of deductions can what you can do with your RE income and how you don't have to return all the money you made back to Uncle Sam will be just as valuable as finding / and if not more valuable than finding one good deal . A good CPA for your real estate needs will save you $100,000 of thousands of Dollars for the cost of a few hundred dollars a month on retainer. Trust me. 

I'd be happy to connect you and be a service to For any of your needs- I do it all the time and You will do so well in your upcoming RE journey.