The plan was to utilize the HELOC as the down payment then getting a conventional loan to cover the remaining 80%.

Would you suggest subdividing the property, building a single house, or building multiple cottages/ tiny homes?

Hey Joanne, you’re definitely onto something with room rentals.. it can be an excellent strategy for offsetting a hefty mortgage and, in some cases, bringing in higher total rent than a single lease.

Are you going to live there also, or do you want to operate a shared housing model in a single-family home with tenants?

I currently work with investors in the states and out of the states to build a portfolio in Turn-Key, Single-family long-term rentals.

In the real world, its hard if not impossible to get all 4 aspects on a single deal.

Always be weary of the 3-4 unit buildings that were built as a single family and then concocted into multifamily.

Heloc’s are best utilized with a short term strategy, ie flx and flip, to BRRRR, etc.

@Daniel Baker I would say a lot of it is based on their training or their resources that they utilize to complete your taxes.

I’m getting ready to make my next move in 2025 and I’m contemplating on staying here and buying a multi family property as an investment out of state (only an hour away) which would be a lot less capital and have a lot more land lord friendly laws or buy another multifamily as a primary residence locally and hack that property I’m single and live alone.