Updated almost 4 years ago on . Most recent reply
Looking to get started
Hello,
My name is Sean and I am looking for some opinions. I am set on becoming a real estate investor, but I don't have much capital. What I do have is some equity in my primary residence. If I am planning on moving within the next couple years, would it be a decent strategy to refinance my primary, rent it out (would cash flow), and purchase a new primary?
I would use some of the refinance funds for a down payment on the new primary and then put the rest away for an emergency fund for the rental. Is this wise? How would I scale up from there?
Thank you,
Sean Tharp
Most Popular Reply
That is a terrific way to do it if your current home will cashflow. If you can do that once per year you will have quite the portfolio built up in 5-10 years!