What to do

[Matt Roberts]

Hey everyone, I've been on BP for a couple of months and I've been absorbing as much knowledge as I can. It's been pretty mind blowing. 

I'm trying to figure out the best way to start building my rental portfolio. I currently have a rental property that I bought with an FHA loan 3 years ago. I owe 171k on it and I have 73k equity with about $350/month cash flow. Last year I was able to buy our current home with cash for 35k and I put 20k on my credit cards plus 5k out of pocket to fix it up myself. It is now worth 105k and it has no mortgage. if you were in my shoes what would you do finance wise and business wise in order to start building a portfolio of rental properties? We would be willing to move to a new home if we need to. Or really whatever.