Updated almost 7 years ago on . Most recent reply
Live in flip next steps- Rent, Sell or HELOC
I've just finished my first live-in flip in an the property has appreciated greatly so i have a ton of equity. I'm torn between which strategy to use to start build my portfolio. At what number do you toss the buy and hold strategy to the wind and take the cash and run?? I see 4 options:
- I could sell the property (would receive a check for $270K after loan is paid)
- Leverage the equity to buy a new primary residence to do a live-in flip and rent the current house(1 unit used as long term rental avg $1600/mth; 1 unit as vacation rental avg, $1200/mth; mortgage is 15yr at $1400)
- Stay put(combining but units would be a must) and use HELOC to buy investment properties using BRRRR.
Open to all ideas so please share. Whats should I do with this money??