Started out, need advice. Already have one property and have 100K in the bank.

[Matthew McCarty]

Hello, BiggerPockets community! I'm looking to make smart decisions for 2025, and this seems like a great place to start. I just finished reading "Set for Life" by Scott Trench. Does anyone have recommendations for another book that could help me?

I currently own one rental property in Danbury, CT. I pay $875 (including principal, interest, taxes, and insurance) and rent it out for $1,625. I have about $155,000 in equity with a current mortgage rate of 3.25%. Additionally, I have $100,000 in cash in the bank, and my monthly expenses for my home and family are around $3,500.

My wife earns between $100,000 and $120,000 from her W2 job, while I've recently lost my job but found a new one that pays $65,000 a year. I’ve found a condo close to home that I'm considering buying for $195,000. I plan to put down $50,000 and expect to net about $300 a month from it.

Does anyone have other options or advice that I should consider?