Looking for some advice. I purchased a blighted single family property & will complete renovations by the end of 2024 (LCOL, 3BR, 2.5 Bath, EV Charger, 3rd Floor Deck, etc.). Estimated monthly rent of $2k, currently have $30k of equity & a 150k mortgage. How can I leverage this to purchase my next rental property? Ideally a multi-family that will cash flow from day one. Any insight is appreciated.

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You do a cash out refi after you finish the reno and use that for the down payment on your next flip.

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So you’re doing a flip? Check comps in the area to see what similar houses are selling for and what amenities they have.

Some of the stuff you listed a lot of people might not care about in LCOL like the EV charger

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Sounds like the cash out the other guy was talking about is your move as long as you’re comfortable with servicing the debt

Google BRRRR strategy - remove or add an R, as needed.

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