Looking for good advice/next best step.

2 Replies

Hello BP! My name is Ethan and I purchased a 3 family house hack last year in MA. I wish I had known about BP before I bought the property because there are few things I would've done differently, but that's hindsight for you. I am planning to refinance my property in the next couple of months and after that I am trying to decide what the next move should be. I'm considering getting another multi family in the area, or trying to save up enough capital to start BRRRR out of state. I'm learning on the fly and trying to absorb as much info as I can, so any input would be appreciated.

Welcome to BiggerPockets @Ethan Barach !

If your current strategy has worked well in your area I would repeat that strategy. If you were to BRRRR elsewhere, what market are you looking at and why the possible shift?

Hey @Bryan Noth. Thanks for the quick reply! My hesitation with repeating my current strategy is the market is expensive and the down payments still add up to quite a bit of cash while leaving a large loan on top of it, even if cash flow is there. I need to do more research in areas to BRRRR, but I'd like to do so in a location with $100-150k can cover 75% or less of the ARV. Even with that said, I would probably need another year to save up that much cash or try to get some private money from my personal network. The interest with Hard Money scares me to be honest and I'm not sure I could make that work as quickly as I'd like to at my current experience level.