HELOC of 85K and not sure where to start investing

[Brian McGuire]

I would like to begin investing in multi family homes 2-4 apts but not sure where to begin. I own a home in PA but would like to use a FHA loan in NJ or NC. Just want to start the right way and bring in income from the investment properties. Any guidance is appreciated.

[Taylor Dasch]

That is great that you got a HELOC. If I was able to get one, I would do this: Find deals (on or off market) at a discount. Use a HML to finance the PP, then tap into the HELOC for the repairs. Use the 85K - or whatever is left after the rehab - to help qualify for the refinance of the property. Once you refinance and pay the HML back, use the rest of the cash to pay back your HELOC then repeat.

[Shawn Mcenteer]

Hi @Brian McGuire lets talk I have been house hacking 2-4 unit properties in NJ for almost a decade. Lets chat, I am always happy to share stories and what has worked well for me and my wife over the years. Best part is all my deals I do without FHA, I use low money down conventional mortgages ( 5% down) with NO PMI :)