Househackers with new equity, What are your plans?

[Kyle Curtin]

Goooood morning everyone!

   I have a question that I would love to hear folk’s opinions on. Due to the craziness of the market for the past year +, many folks (especially househackers) likely have a reasonable amount of equity in their properties from the rapid forced appreciation of buyers paying considerable amounts over asking. 

I am personally looking to take out a HELOC with an LTV as close to 100% as I can get, to then begin to leverage existing relationships I have built over time to raise capital through equity/debt partnerships and take down a 6-10 unit value add in Worcester/Middlesex county in the near future.

I have heard of investors taking out their heloc’s to purchase other 3 family owner occupied multi’s, input it into bigger deals with other local investors, and put it into syndications.

What are your plans? 😁

[Ethan Foster]

Just like William I have just taken out a HELOC on my first house hack. I intend to wait until March-April next year and go for another owner-occupied multifamily in Worcester county using 5-10% down. I want to leverage my money as much as I can and also have a very nice safety net in case the worst happens. That's the plan, but I'm certainly keeping my eye out for everything coming on the market for other opportunities to good to pass up!