New Member! I own one, what to do next?!

[Kevin Dokyi]

Hi everybody, I'm Kevin, 27, from Italy and I live in Miami. I bought my first rental property in 2018 in Miami Beach, a condo apartment, and it's now paid for. I never really been into the mechanichs of Real Estate even if I did buy one apartment and now after 5 years, I'm interested in investing in more. I'm reading Brandon Turner's books and I'm getting some informations about REI. I now don't know what option would work better for me. I could either get a HELOC and get another LTR or get multiple cheaper options instead of one. I bought the apartment for 140k and it's now worth 260k. I'm also thinking about selling it and use that money for many downpayments but I'm very confused about what I should do next. While I'm still studying and preparing myself, what would be your advise? Thank you, Kevin!

[Preston Dean]

Quote from @Kevin Dokyi:

Hi everybody, I'm Kevin, 27, from Italy and I live in Miami. I bought my first rental property in 2018 in Miami Beach, a condo apartment, and it's now paid for. I never really been into the mechanichs of Real Estate even if I did buy one apartment and now after 5 years, I'm interested in investing in more. I'm reading Brandon Turner's books and I'm getting some informations about REI. I now don't know what option would work better for me. I could either get a HELOC and get another LTR or get multiple cheaper options instead of one. I bought the apartment for 140k and it's now worth 260k. I'm also thinking about selling it and use that money for many downpayments but I'm very confused about what I should do next. While I'm still studying and preparing myself, what would be your advise? Thank you, Kevin!

 That's awesome! Love to hear success stories like this,

In my opinion

I would turn your property into a rental. Move out. Purchase a small duplex/multi some with a 5% loan. Then with either the left over money you have or with some of the equity from your first property I would buy an investment property with 15-25% down depending on the lender.

That way you have 1 property that is cash flowing nicely (your first)

You have a second that you are house hacking (your current primary residence)

You have a third that is your first real investment purchase with 15-25% down.

Sounds like you are in a fantastic place to be! I don't think you could go wrong with whatever you decide to do