What Would You Do? (General beginner advice)

[Daniel H.]

What actions would you take?

Greetings everyone, I am a newcomer to the Bigger Pockets forums, although I have been following various BP YouTube videos for a while now, gradually gaining insights into real estate investing.

In summary, I am seeking advice from fellow members and potentially hoping to find a mentor.

Here's my current situation:

I earn a high income. I won't disclose my specific job, but I make over $400,000 annually before taxes. Regrettably, I have a significant amount of student loan debt. This has resulted in a high debt-to-income ratio, making it challenging to qualify for conventional loans.

I currently own a Tri-plex. This property generates around $1,800 in positive cash flow each month. To acquire this property, I partnered with a family member. I contributed $90,000, my family member contributed $90,000, and the remaining funds were withdrawn from my family member's home equity. This allowed us to purchase the property outright. However, I differ from my partner in terms of strategy. They intend to aggressively pay down the home equity loan and have even suggested that I contribute an extra $5,000 from my own pocket each month to quickly eliminate the loan balance. From my perspective, I am keen on leveraging my capital to acquire more properties that generate cash flow, and I am hoping to persuade my partner of such.

My inquiry is as follows:

In my situation, what approach would you recommend? How could I rapidly expand my real estate portfolio?

If I continue saving my earned income diligently and utilizing equity from our current investment property, is it feasible to keep purchasing additional rental homes and replicate this process?

For instance, can my family member and I consistently save our earnings, then execute a cash-out refinance on the Triplex to obtain the necessary amount "x" for purchasing a new property outright? Could we then repeat this cycle for every subsequent property?

The above is merely an idea I'm contemplating. I understand that given my position, I should have ample opportunities. Inspired by the stories shared on the BiggerPockets Podcast, I am prepared to make the same sacrifices, save aggressively, and work harder to acquire cash-flowing assets. I'm in need of further guidance and education on the most effective way to achieve this goal.

I would greatly appreciate your insights and look forward to continuing this discussion in this forum thread.