How would you invest a $48,000 HELOC??
Hi, BP Nation! My name is Tyler McEwen and I am located in Johnson City, TN. I am 28 years old, a father, husband, mechanic, welder, and a farmer. I have a great W2 job with a wonderful schedule, but like everyone else I like to make some extra money for my family and this "Financial Freedom" everyone talks about sounds wonderful. Like many other members here I read Robert Kiyosaki's book "Rich Dad Poor Dad" around 3 months ago and it has completly changed my mindset. After finishing this book I have read several other real estate books, analyzed several deals, listened to every single podcast!, spent hours on realtor.com and my local county tax website, talked with local lenders and banks, looked at properties with my realtor, took several notes and I've even made a few offers on a couple houses I thought I could flip. I'm honestly open to any kind of deal.. wholesaling, flipping, or rentals. Long term I would love to buy a duplex or small multifamily (4-8 units), but with that being said I would also like to maybe flip some homes if I can find the right deals. I feel I need to build some capital for these rental down payments rather than using my HELOC for the down payment?? I just recently closed on a HELOC of $48,000...
IF YOU HAD THIS $48,000 TO GET STARTED HOW WOULD YOU INVEST IT IN REAL ESTATE???
Thanks, guys! BP is awesome and I can't get enough of Josh and Brandon's podcast! I've learned so much!!