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Updated about 8 years ago,
Help with my next move/growing my company
Just wanted some advice from you guys/gals...I am currently at a point in my rental portfolio where I am not sure what my next move should be. I honestly can't believe that in only 4 short years I am on my 4th property, actually 5 but the 5th is a piece of commercial land that I one day hope to build on...
Currently I have 4 properties and all 4 properties currently have a 6 month reserve fund (Mortgage x 6 months). I have tenants in all the homes and no issues...It took me a little while to evenly disperse my reserves but I got it now. I also have about 4 months of reserves in my savings account for my personal residence/lifestyle...I feel like I am in pretty good shape right now, so what is the next step? Do I just let the cash build up until I get enough money for another down payment on another investment home? Or empty out my personal savings to grab another rental property...???
I have to admit I am kind of out of my comfort zone so any advice would be great. I am in the Military and move around quite a bit, so I think my next step is hiring a property manager so that I can focus on "Working on my company, not in my company" anymore...I think my job now is to grow it. I don't want to lose momentum, I would love to continue my pace.
Any of your thoughts would be great.
Chance