Hope you're doing well! I'm pretty new to real estate investing and looking for some guidance on which strategy to use for my next deal.
Here’s where I’m at:
I own two single-family:
A rental in Texas that brings in around $800/month cash flow
My primary residence in Las Vegas
I’ve saved up about $60K to put into another investment
I’m planning to buy the next property here in Las Vegas
I'm trying to figure out the best move. I've been looking into BRRRR, house hacking, or possibly using a HELOC (either from my TX rental or my Vegas home), but I'm not sure which strategy makes the most sense right now.
If you’ve been in a similar spot or have any advice, I’d really appreciate hearing your thoughts. Thanks so much in advance!
Real Estate Agent · Las Vegas, NV · Member since 2020 · 459 posts · 305 votes
1y
Run the numbers for all possible scenarios. It’s the only way of knowing what will be best. It’s much harder to run them in the middle of deals. If you do it before, there will be less surprises. House hacking in Las Vegas is good, but it is usually in a single-family residential home as roommates.
Virginia Beach, VA 23452 · Member since 2024 · 88 posts · 14 votes
1y
Make sure to research your local market. Knowing what’s selling, rental demand, and rehab costs in your area can help you choose the best path forward. Good luck!