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Updated over 6 years ago on . Most recent reply

User Stats

20
Posts
5
Votes
Gursewak Singh
  • Realtor
  • Frisco, TX
5
Votes |
20
Posts

Investment advice Needed

Gursewak Singh
  • Realtor
  • Frisco, TX
Posted

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.

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