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All Forum Posts by: Anthony Hilliard

Anthony Hilliard has started 1 posts and replied 1 times.

Starting Out

Post: Help with a decision

Anthony HilliardPosted
  • Posts 1
  • Votes 2

We currently own 2 homes, a 3/2 and a 1/1 on the same lot, ones our primary residence and the other we moved my grandparents into.  They are getting old and need to be with us. 
We got a great deal on the home in 2021 and currently owe $164,000, 3.5% interest, we just got a BPO and it appraised for $355,000. 
we are tapping into the equity with a HELOC.

We want to make our first move into real estate investing but not sure what options to take and I'm looking for advice. Ultimately our end goal is to own long term rentals. 

- Buy and Flip using our HELOC to raise capital to purchase long term rentals

-Purchase another primary residence to use our current two properties as our first rentals (est. $2,000 a month in cash flow) We still have an FHA Loan available, purchased our current property conventional.

-BRRR using our HELOC

-or just start buying, turn key/TLC rentals to hold

-seems less desirable to me. $50-$60k Reno cost into our current residence and flip them for an ARV $500,000

2 Votes
Knoxville, Tennessee