How would you allocate your funds?
I'll try my best to set the scenario.
- You have a LOC for $200,000 @ 2.95%
- Personal funds of $50,000 cash
-average local purchase price of a residential home is $450 000
How would you allocate your funds to maximize leverage? And why? Assuming a 20% down payment and cosmetic updating ie. Floors, paint, cabinets, counters.
Goal is to attain multiple properties over time.