7 Properties in 10 Years by Turning 1 Home’s Equity Into an Entire Portfolio
Real Estate Rookie
Shownotes Transcript
This **assistant principal **slowly and steadily used home equity) to invest, helping him acquire seven properties in just over ten years. These properties have now seen sizable appreciation), and he has hundreds of thousands of dollars in equity, all thanks to taking it slow and making the right moves on the right rental properties. This might be one of the most repeatable paths to wealth out there, and you can copy it to a tee to build wealth, too!
James Likis got his start where many rookie investors do—house hacking. Except it started WAY before he was an adult.** James remembers his family house hacking as a kid**, which prompted him to buy, not rent, as soon as he started looking for his own place to live. After house hacking for years, he saw his equity grow and later used this one property to buy his dream home, which would help him build even MORE equity.
James has used this **equity-recycling strategy **to buy over a million dollars worth of real estate, and it all started from ONE house hack. You can do it, too, and like James, you may begin searching for even more affordable housing markets where your dollar can stretch further. Today, he’s sharing **how he used his home equity to grow his **real estate portfolio), why he decided to invest out of state, and a specific home renovation loan he used to turn his second property into a fully-renovated, high-appreciating family home!
In This Episode We Cover:
Why you DON’T need to rush to build a successful **rental property portfolio **
Using home equity to invest and cash-out refinances vs. HELOCs)
The easiest way to start investing in real estate that rookies should try
Home renovation loans and what you MUST know before using an FHA 203(k) loan)
Why focusing on** investing for appreciation (not JUST cash flow)** will make you wealthy
Long-distance real estate investing) and buying in more affordable housing markets
And **So **Much More!
Links from the Show
Ashley's BiggerPockets Profile)
Tony's BiggerPokckets Profile)
Real Estate Rookie Facebook Group)
Invest Out-of-State with “Long-Distance Real Estate Investing”)
See Ashley and Tony at BPCON2024 in Cancun!)
Home Equity: What It Is, How To Calculate, & How To Use It)
Check out more resources from this show on BiggerPockets.com) and https://www.biggerpockets.com/blog/rookie-462)
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