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Updated over 6 years ago on . Most recent reply
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Investment advice Needed
Hello All,
I am starting out into Real Estate field investment side. I am 35 year old, own a small biz & also I am a Realtor in Texas. I need some advice regards to BRRRR strategy.
Here is the info:
My primary residence is almost paid for. (Payment $ 1080, Loan left $38000, Value $ 400,000)
1 Rental property $ 1400 per month (No loan, Value $ 200,000)
I don't have any other debt except one car payment for $438.00. (Loan left $9500)
Monthly income $ 7000.00( Not adding rental property)
My question is..
* Should I go get another loan, Put 20% down & rent out property? If I do this, would this block me from borrowing for other properties that I am planing to purchase in future and do BRRRR?
* Should I Pull out equity from my other rental property?
* Should I buy another property with Cash, & start doing BRRRR...
I would appreciate any help. TIA.