Thomasville, NC · Member since 2017 · 49 posts · 11 votes
First off newbie her wanting financial freedom through rentals. My question is are you better off to use that cash flow to pay off your first rental or to save up a down payment for your next property?
I'd suggest using the BRRRR strategy and taking the equity out of one property and using it to acquire the next, assuming you buy a property that can gain equity via forced appreciation through rehabbing it. The cash flow you'd get off of one property would probably take a long time to pay it off unless you got an amazing deal off the bat. Just my thought, but after I got one done, I'd be focusing on the next deal. Maybe get a few going then using the combined cash flow to help pay them off one at a time.