More advanced/later on in your investment purchase

[Jason Arcuri]

First and foremost, I'm not a new investor and I am a high-risk individual.  With the tactic I'm currently using, I will be leveraging an old multi-family I had bought a few years ago that has a ton of equity.  I roughly owe 170k on it and it's worth around 450k.  My hard money lender is putting a second lean on this property as my collateral so I can buy a 5 unit and a 6 unit in Waterbury for a very very good deal.  Also, they will be financing 25k in rehab work (basically just updating electrical throughout both buildings).  
Now what's cool about this is that I will refinance the properties within the first year and get into a normal mortgage and get out of a ridiculously high rate hard money loan.  Also, when I refinance, there is so much equity in the 2 buildings that my entire loan amount will be covered so I will have now added 11 units to my portfolio and roughly 3k of passive income.  (I will be splitting this with a partner I have as we have grown together so for me it will be 1500 of income).  
Once these 2 are refinanced, that now opens up my original multi to be leveraged and the 2 new ones also will have a ton of equity and I will be able to leverage them into purchasing more.
On top of that, I also belong to a company that I get residual income from utility bills that I request my tenants use.  Having 11 more units, I should be able to get half of them into that program.  

Hoping next year will be the year that puts me over the edge on my goals.