Refi or big down payment?

[Taylor Jardine]

So we currently have a duplex- wahoo! We just had to jump into the game asap and we definitely overspent. It cash flows about $150 /month if we’re not doing any updates to it so it’s quite minimal. My wife and I are trying to figure out our next step- we would love to get a 4-unit deal that we’ve been looking for. Currently drivinfor dollars and eIll start cold callIng and sendIng dIrect mail We‘ve been makIng the lIst. We‘re nor sure how to fInance the next property we have about $30k of liquid cash that we’re comfortable spending if need be, but would definitely be more comfortable using OPM and not losing our leverage. We used an FHA on the first duplex, now we’re renting for $400 a month saving about 70% of our income. Should we put about $15k into the loan at our duplex so we can hit the 80% LTV in order to refi ourselves into a conv so we can then use FHA on another multi unit? Or save up a bigger down payment for the next one? We have also considered doing some SFH because of the ease of owner occupied down payments. Thoughts?