Does This BRRR Strategy Work
So I bought a 2,200 sf duplex in Nashville for 140k. It got appraised at 305k! I got a HELOC at 85% LTV and am using no more than 40k of the 118k I pulled out in equity to renovate the property. I was considering utilizing the remaining HELOC money as a down payment and rehab money for my next property.
Is this a dumb idea? Is there a more efficient way to make the most out of my current situation?