He is 69 and does not want to reinvest (1031 exchange), which leaves me having to make a much larger investment on my own to meet the 1031 requirements which is more than I’m willing to do at this time.

Purchase price: $250,000 Cash invested: $52,000 2013 Built in a Class B neighborhood of Houston.

@Mario Morales - As some others have said I think the strategy is sound, but the key would be to find a distressed property that you can drive up the value with renovations so that the new value is 25% higher than the purchase price so you pay back your HELOC.

Purchase price: $1,150,000 Cash invested: $200,000 Sale price: $1,599,000 Welcome to your dream home!

Purchase price: $325,000 Cash invested: $50,000 This time I acquired a property that needed little to no work.

I purchase my 1st multi family in Durham last sept, I was debating between str and long term, I went with str and I am loving it so far. my dec occupancy is Unit one 2b1b: 82%unit 2 studio: 79% So far so good and already thinking of getting another one in 2025 🤤 These are great numbers for this time of year!

Quote from @David Cherkowsky: Quote from @Sasha Mohammed: Hi David,There are lenders that will allow you to purchase via a DSCR loan using STR income to qualify.

Running a sort of mini poll:How many users purchase BiggerPockets Pro, and what are some of the features provided that help justify the monthly price point to those of you that have bought it?

I plan to purchase a primary residence, multi-family home (2-5 units, 'house-hack'). 

Purchase price: $265,000 Cash invested: $200,000 1930’s historic home with a converted garage.