All Forum Posts by: Neil Tollner

@Allen Wu thanks for your feedback.. like yourself, I think the appreciation play is too strong not to keep for at least a couple years before selling and reallocating that to a different property.

I just started the book long distance real estate investing and plan to look at other cities outside the New England area.

Thanks for your insight!

@Dan Schwartz thanks for the knowledge.. I had t thought of that strategy. This section of Boston continues to rise and think it’s going to be a great appreciation play the next 2.5 years. Long term condos aren’t in my future with the lack of overall control. 2.5 years is a great time table to gain equity and move onto the next property. Thanks again!

@Matthew Perry thank you for the feedback.. definitely going to with a duplex to fourplex on the next home via FHA. Appreciate the book recommendation.. just ordered it!

@Greg Scott thanks for the feedback.. definitely will run all the numbers

@Bonnie Low thanks for the insight.. I haven't looked into a cash out refi yet. Definitely will compare these 3 scenarios. I'm all for maximizing this situation.. appreciate the BRRRR calculator tip!

@Greg Scott, I appreciate your response. I agree with you on not being able to control the condo. Initially, I was going to sell. I ran the numbers on renting it out and it will give me $415 a month in cash flow. Also lots of development in the neighborhood predict for an even better profit from a sale down the line.

With that said, I'm curious in this scenario, would you leverage a HELOC to for a multi?

Thanks in advance!

Hi Everyone,

Recently joined, love everything about BiggerPockets and here to absorb as much knowledge as I can.

I have a 1 bed 1 bath condo 5 minutes outside of Boston with my fiance and have 130k in equity in the property. We need more space and I'm all in on renting it out and either house hacking a duplex, or buying a single family and save/learn how to manage a rental with the condo. The condo is on the beach and I know I can rent it in a heartbeat, since it's on a T line that goes directly into the city.
 
With that said, would you recommend a HELOC on the 130k equity for the duplex/single family? With rates so low, I think it makes sense. However, want to see if anyone would recommend against it. I could use personal money (and not opt for HELOC) for the next property, it would just make things tighter than I'd like.

If we go the house hack route, I know we'd go FHA 3.5% down route.. if we buy a single family to live in, we'd put 20% down.

Any insight and/or past experiences would be greatly appreciated! Thank you!