All Forum Posts by: Erica Moore

This is amazing!

@Eric Fernwood I can't begin to explain how helpful and appreciated your response is! Are you still willing to share the break even tool and interview questions?

@Lori Greene I've also been hesitant to use a HELOC for this reason. Does anyone know how long do I have to use a HELOC once I pull it out?

This is so inspiring!!

@Account Closed great advice. thanks again for the help!

@Account Closed I haven't really heard much of them lately, but I'm also a little more focused on south Austin (no particular reason, that's just where I am currently). 

i appreciate the insight. Completely get that it's a mostly personal decision, but it's comforting to know that one of them isn't glaringly terrible! On a semi-related note, what's your opinion on selling one of the SFR and purchasing a duplex now instead? Or should i hold on to anything i was able to snag at a decent price in Austin?

@Account Closed oh i won't be investing in a small mulit in Austin! It would be in one of the surrounding cities for sure. I do want to change my primary residence within the next 3-4 years to a larger, semi-permanent home. And i'd also like to start building my portfolio and expanding into small multi's. 

So i guess my question really boils down to: which one do i do first? I can afford the single family much quicker, but don't want to delay growing my portfolio (granted I still would with a 3rd SFR) just to move into a larger house i don't necessarily need right now. But I also don't want to put off buying anything for too long until I can afford a duplex/triplex if i could get a 3rd property now. Unless i'm looking at this all wrong?

Thank you for the insight, @Aaron Hale. My thinking was to either do 5% down with PMI on a semi-permanent single family and rent out my 2 current properties or wait to save the money for a duplex or triplex. I've read that using a HELOC for the multi-family isn't a good play. would my only option at this point be to wait until i've saved enough?

@Terrell Hill I'd like to only move one more time for the next several years (and want that to be in a single family), so owner occupancy on a mulit isn't an option :/

I'm new to BP and to REI as well. Currently own 2 single family homes, both purchased owner occupied - living in one and renting out the other. These were purchased before i decided to get more serious about real estate and happened to work out so far, but I don't want to go into my next purchase as blindly.

I'm getting ready for more investments and can't decide if I should make the next one another owner occupied single family home or a multi-family home? I'm not willing to move into a duplex, etc. although I know that would be ideal! Any advice on which route I should go or pros/cons to each? Also open any advice on how much $ I should have saved for each property in case anything goes wrong; should I hold off on purchasing altogether?