Cost-Effective Entry:Buying a duplex often requires a lower down payment compared to purchasing a multifamily property (5+).

Hey y’all,Exploring my first BRRRR, and curious about financing strategies of initial cash purchase vs HML.

My fiancée and I purchased our first home in 2017, and accidentally stumbled into about $125,000 of equity with it.

Im a newbie trying to learn how to assign L.O.s with option to purchase. and so ive heard hes the go to guy.

However, I don't like this idea because it creates Loan A (the equity you borrow against your home) and Loan B (the purchase of the investment).

As you gain experience and build equity, explore leveraging your existing properties to finance additional purchases.

Some info:Original property purchase price ~$90k100% cash purchaseLooking to put the proceeds of the sale into escrow account (1031) and use it for a down payment to purchase another property of greater value (say we get $110k from the sale, so we can look for up to $380-400k approx. @25% down payment)Does anyone have any contacts to help facilitate a 1031 in NY?

We purchased our first investment property during our time in public accounting and hired property management.

I have other considerations like quality of the house at purchase, neighborhood, renting room specifics etc.

I have to believe this was intentional waste of energy.By the way I have now set the min temp to 68 degrees so in the future no one will be able to cool unit to 61 degrees.