Hello everyone, I've found myself in a very fortunate position. My primary home has increased in value drastically in the last year and half that I've owned it. I am in the early stages of a cash out refi and I'm expecting to have between 100K - 130K cash. I bought two sfr in 2021, so I have a little experience, but at this point I am a little overwhelmed. This is an opportunity I really don't want to mess up because I know whatever I choose now will greatly influence what comes after. Any advice is very appreciated. I keep finding myself looking at lower class properties, but quickly begin to consider all of the cons. I would love to BRRRR, but I can't even decide on a market.
What's your liquidity need? Are you looking to invest the capital into a property for at least 7 years? Are you investing more for appreciation or more for cash flow?
Do you prefer to put the entire amount into one property or would you like to see it diversified across multiple properties?
I would like to scale as quickly as possible. I have no preference over putting it into one property or multiple. Whichever will help me to scale faster. Definitely looking for cash flow unless I'm able to quickly refinance for capital instead.
You mention wanting to do a BRRR. What is your construction background? Not that you can't just hand it over to various Contrs, but then you are leaving so much $$ on the table, it'll make a great deal harder to find...