1st time investor and ready to learn
First let me begin by saying this is a great site. I have for many years participated in an aquarium forum where I learned to be successful in that hobby (i know completely unrelated).
I have no doubt that I will gain the same level of knowledge and respect for this site as I have on that one.
With that being said, I am doing my do diligence on learning as much as I could about real estate investing. I have sub scribed to the podcasts which listen to everyday in the morning before work and in the evening after work (catching up). I also do what I can in reading through the posts for anything relevant (that would be everything).
So I have a pretty good knowledge on rehab as I have done two complete rehabs on foreclosures that I used as my primary residence. I have an MBA with a strong background in finance. I am not saying that this alone will make me successful but I do think it gives me an advantage.
Sorry for the long winded introduction. What I wanted to ask was the following:
I have very little money to put down on a first investment property. The niche that I think I want to focus on are small multi family units. If I read correctly, I could possibly use the equity in my home and receive a line of credit. Is this a smart way to go?
Also, where I am stuck is the fact that if I use that money to purchase an income property, how would I finance the others that I would like to do in the upcoming months? I am confused with this part.
Thank you for any guidance you could provide. I look forward to the responses.
Bill