Currently have paid off 2 unit, need advice on next move to buy!

Hazleton, PA · Member since 2016 · 1 post · 0 votes

We bought a 2 unit property about a year ago and we're trying to get into a second deal. Should we use the BRRR strategy or use our own cash for a down payment?

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James Mabe
Investor · Winterville, NC · Member since 2015 · 47 posts · 93 votes
8y
Refinance and use the bank's money for your next down payment.
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Tony Mai
Rental Property Investor · Los Angeles, CA · Member since 2016 · 137 posts · 80 votes
8y
Option 1. refi the cash out and use that
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Tony Mai
Rental Property Investor · Los Angeles, CA · Member since 2016 · 137 posts · 80 votes
8y
Option 2. Use private money BRRR. Either way works
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John Claborn
Lubbock, TX · Member since 2014 · 38 posts · 18 votes
8y
Agree with both assessments. If you can purchase a property without using your money, that's the best move. After you have a few, depending on your debt preferences, either use a LOC or refinance and pull cash out to buy more, or snowball the debt and get them paid off. Either way is great depending on your goals and your tastes for debt.
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