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Buying & Selling Real Estate

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Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
32
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164
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Accumulating Rental Properties

Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
Posted Mar 27 2017, 10:41

I'm working on finding a rental property as my first deal.  For right now, I'm focusing on pretty much turn-key properties.  If I stick with this and spend all of my money allocated for real estate on this first property, how would I go about getting my next property (and more after that)?  If I was to get a loan for 80-90% of the equity in the house, I'd quickly reach the point of diminishing returns and I might have a 'seasoning period' to take into account as well.  It seems like this isn't the best way to build a portfolio.  Or it would just take forever to save up enough to buy the next house each time (depending on my savings rate, of course).  

I have no experience w/ renovations, but I feel like BRRRR is the only way to build a portfolio in a reasonable amount of time.

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