All Forum Posts by: Thorney Gibson

 Home Equity Line Of Credit  These are usually a second loan on your principal residence. Usually structured so that you can take out and pay back money at will. Kind of like a cash advance credit card with your house as collateral. 

Hi Jordan, 

2 options if you don't already have funds: 1) buy a fix & flip first, which is what we did.  2) buy a 2 - 4plex & move into it, which we also plan to do.  My broker was talking yesterday about new programs that allow for 3% down and the lender will pay for your mortgage insurance... 

There is also the strategy of buying 1, then taking out a line of credit on the property buy another.  Didn't Josh write a book on this recently? "Invest with no to low money down?"  You may want to check out the podcast if you haven't already.  They've interviewed a few investors with different startup strategies.  

Thorney,

I have just recently rented out a SFR. My next goal is a multi family. As you can see from the posts, there are many benefits. But no matter what your investment, it needs to be properly evaluated and researched. What area of Maryland would you like to invest in? The multi family market may be better or worse depending on the location. Make sure you have a backup plan(other exit strategies) if by some chance that renting it out doesn't work. Do the research in the area to see what the rental demand is like, overestimate any repairs costs that you anticipate. Good luck