Also, a lot of sellers might be more willing to finance the down payment if they know you're committed and have a clear plan for the property.

Hi all,  I'm in the early stages of planning a development of a lot I own in SE Portland. 

I plan to utilize some cash, margin loan, 401k loan, and a HELOC as a down payment.My first house hack (now an out of state investment) has a Zestimate of $530K, and I have $266K left on the loan.

Prioritize your financial stability.

If you plan to use the remaining HELOC for a DSCR or BRRR strategy, that could help you build more equity, but consider if the current market conditions will lead to higher rates and lower cash flow in the near term.If your goal is to scale, you might consider holding onto your current duplex for the cash flow and focusing on the BRRR/DSCR strategy, which can allow for more control and potentially better long-term returns.

I’m currently house hacking and planning to buy my next property in about 6 months.

I would never advise my customer to take a 5 YPPP considering we are have been moving into a downward trending rate market since 2024. 3 Year Prepay Max but if you plan on doing renovations or taking cash out on the ARV then a 1-2 YPPP would be Max.I would also advise buying the rate down before you decide to take a 5 YPPP using seller credit, equity or closing funds.

Excited to hear about your plans for 2025—let me know if you ever want to chat about the market or need any help finding deals!

Legal consequences and potential financial loss that could have been avoided with timely updates.2.

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