Help with next step

4 Replies

Ok BP I need your advice I have bought a 3 family and now I am buying a personal home. So I am looking for the next step

First I am going to the bank and get a line of credit.

Next ether use hard money to buy a sfr to rent out brrrr

Or am I better off brrrr a 2 or 3 family home in ruffer area more profit. But more money out as well

Any feed back would be great

The next step is don't get too far into debt on things that don't cash flow. Buying a personal home, in my opinion, is not a smart way to use your debt to income ratio. Zero ROI on your house. If you've already bought it, I would only use the investment property as BRRRR, not your house.

@Anthony Dooley thank for your input. I had to buy a house for me and my kids . I am not into house hacking for my personal house .the multi family was a turn key property. But I am looking to invest in my 3rd property. That why I was looking for some information

@Brian Prudden I'm not busting your balls my friend. But your OP sounded like you were incurring a lot of debt. Debt can be a great tool, but it can also bankrupt you. That's all I meant. BTW, you and your kids can live just fine in a rental, but whatever makes you feel good.