I'm new here and was just introduced to BP about a month ago. I have to say, listening and reading about all these real estate investment strategies that's been shared with the BP community has been truly fascinating!
My first (accidental) start in real estate: Back in 2016, my neighbor purchased a home in the suburbs and was looking to sell his 3 family home in Boston, MA. I was able to purchase it from him at a good price before it was officially placed on the market. After a bit of TLC, we fixed it up a bit, rented it out, and have been collecting rent on all 3 units ever since. Over the years, I would say that purchasing that home was a smart move and the return has been profitable. (Prices for 3-family units have skyrocketed since!)
Fast forward to today: I did not look into real estate investment after that because I truly did not know there were actually many OTHER ways for someone to buy more properties! After listening to these podcasts I've been motivated and I'm hoping to get some tips/guidance on how I can invest in more real estate!
Since I'm fairly new at this; I have been researching differently techniques, types of loans, down payment, HELOCS, etc. I'm just not sure how to get started and was wondering if anyone could offer any guidance/tips for me. Are there ways for me to leverage my 3 family rental unit to buy other properties for investment? Any suggestions would be greatly appreciated!
@Leah L. It still to this day blows my mind how much real estate a person can buy with relative ease.
You have a 3 family in Boston, so I am going to guess that you have made a little (lot) in appreciation over the last 3 years and that you could use a HELOC to tap into that equity. That is what I would do.