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Creative Real Estate Financing

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Brian Price
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Leveraging a property to purchase another?

Brian Price
Posted Jul 16 2020, 19:21

New to investing. I'm self employed and For the past 18 months, I've only paid myself $350/wk due to last years hurricane and now this pandemic. I own an investment townhouse free and clear and I conservatively estimate its value at $105K-$115K. I gave my tenet a deal for paying cash. I have X amount of cash now; however, I think I've shot myself in the foot! Lenders want to see a history of occupancy/income. Is there a way to leverage this property? perhaps a private investor!?! If so, Where should I look? Also I'm putting my primary residence on the market because I'm tired of paying an HOA! There's about $45K in equity there. The plan is to acquire a multifamily property and/or house hack. The ultimate goal is to generate enough cash flow to dedicate full time to learning real estate investing.

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