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Updated 14 days ago on . Most recent reply

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Mitch Mercer
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Looking to expand portfolio and buy second property

Mitch Mercer
Posted

Hi all! First timer here posting in bigger pockets forums, been following for awhile now. I'm living in calgary AB canada. 

I bought my first property in 2021 which I then turned the property into a rental and recently made some renos increasing value. Units been cash flowing ever since i rented it. The market in calgary has exploded and I have amassed a large amount of equity I could access. I'm trying to think about my next step, I know I would like to buy another property, just unsure if I should sell previous and potentionally have enough capital to purchase 2 or refi / line of credit against equity to fund second property. Is there any tips or advice anyone has for a newbie looking to increase his portfolio!

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Mitch Mercer
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Mitch Mercer
Replied

Thanks for the advice! I appreciate it. Gives me some homework to see where my money's best utilized 

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