growing my investments

[Lawrence Cox III]

Hello, my name is Lawrence Cox III. I have owned a 4-plex since 2001. In 2012 I was able to purchase an 2 bd 2 b mobile home. I now have the mobile home paid off. I have a mortgage on the 4-plex. I should have some equity but would like to do some repairs first before I have an appraisal done. I estimate between 50 - 65k in equity. Would it be a good idea to borrow this to purchase the next investment? And should I buy something that would be free and clear and use the  equity again? All advice is greatly appreciated. Thanks in advance.

Lawrence Cox III

[Elizabeth Colegrove]

Everyone has their own opinion over this. I personally put as little down in the units as possible. Therefore I do not pull the money out of the units in order to keep us stable and build equity! So for us we use the rents and other methods to buy again! Again this is a very each person has their own style argument