Updated about 7 years ago on . Most recent reply
Unintentional BRRRR. Need advice on the REPEAT stage
First property I bought was an undervalued house hack double.
Purchased for 70k with an 80 conventional loan.
ARV 160k
I then took an 80k HELOC.
Next I bought a single fam to move into using another conventional mortgage with 20% down coming from the HELOC.
After all this I then discovered the BRRRR strategy. I thought that was kind of coincidental how I kind of followed the strategy without intention.
Anyways, what I'm wondering is how do I repeat this process?
Rehab the single family and do a cash out refi and pay back the 20% I borrowed from the other HELOC?
Essentially it seems as though I would keep using a HELOC for down payments until I build up enough cash flow to buy fully in cash.