I’m actually in Arizona at one of our properties until the beginning of October but am planning to be back in that first week.

There are so many great strategies to help you scale your portfolio, so I understand your desire to find the right plan and avoid mistakes.

You could easily spend a lot of capital to start with something else but doing the house hack gets you started and your feet wet.

Example - borrower uses loan to purchase a home in a B or C grade neighborhood for 380k, spends 50k rehabbing primary home, uses 200k to put an ADU in the back, appraisal comes back at 925k. 

However, after he saw the quantity of ADU applications come across his desk to plan check he went out and started his own consulting company.

I have one property at the moment, but plan to expand my portfolio. 

Quote from @Celine Besson: Hi everyone,We recently moved from Memphis, TN, to Montreal, Quebec.Before leaving, we planned to invest in a small house, renovate it, and rent it out (Ultimate goal would be to BRRRR).

In Miami, we all know how people use rented cars, boats and houses to give themselves credibility.  5k for me is pocket change but I never like to spend money on a losing investment. 

Really the plan was 6 months there and 6 months in Vegas.

I tried to use an app called melio to pay some of my contractors with a credit card and it cost me more headache than planning for my rehab project.