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All Forum Posts by: Stetson Coursey

Stetson Coursey has started 1 posts and replied 1 times.

Starting Out

Post: Looking for direction on how to start

Stetson CourseyPosted
  • Real Estate Agent
  • Central/Western KY
  • Posts 1
  • Votes 1

I'm looking for advice on advancing in real estate investing. I'm 19, based in south central Kentucky, and purchased a home in August 2023 through seller financing. Currently, I work as a real estate agent and plan to invest in rental properties within 1-2.5 years. My ultimate goal is to transition into full-time real estate investing.

My current home is a 3-bed, 1-bath, approximately 1960 sqft, needing updates. I'm considering applying the BRRR method to my own home, without renting it. Would it make sense to invest in improving my home, then refinance with a bank to extract the created equity, and then use that money to purchase a rental property? Or should I save up separately for my first rental property and keep my personal residence out of this?

Long-term, I aim to acquire multiple rental properties using the BRRR strategy to generate income and improve my community. What's the most efficient way to achieve these goals? How should I calculate a for doors to income to know roundabout what my goal should be?

1 Vote