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Updated over 5 years ago on . Most recent reply

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Best path to buy 1st multi family, 0 cash

Posted

Own a home (2 years), equity is about 15k only. This year making an in-law, which should increase equity in home. 0 cash in pocket. The big I have is once I’ve educated myself enough (research, etc), I keep coming back to the same question. If I see a MFH, that looks like a good investment and have 0 cash or very little say 3%, is it recommended to use equity on house we live in to put down on MFH?

Or, do I just need to keep saving my own cash?...which may take longer

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@Cassi Justiz

Ok thanks, so essentially I need to build my egg of cash to invest and get the ball rolling, by increasing the EOM cash...paying off whatever else I can (cc debt free), so things like car, etc...

Then I can play...

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