Buy and Hold for 2 years... Whats Next?

[DeMario Drummond]

I backed into REI a little over 2 years ago. i chose the buy and hold method and i have no real complaints so far. Just looking for someone with more experience to give their opinion or tips. I have two single family properties paid cash. i plan on buying a third, possibly a forth before the year is out(cash). I have an LLC with one property under it, the first one i purchased is still in my name. Is an LLC per property sensible? Any advantages or disadvantages to the way its currently set up?

I have a business phone and number established, but i didnt need that immediately lol. I write it off, but still. Anything else i can wait on, or should stay away from...?? Getting a property management company worked out better than doing the work myself. I  I have a business bank account to separate funds, and thought it would be great to start building my business credit by getting a secured credit card. Is business credit necessary this early on? Any particular metrics i should be focused on(ie. Cap Rate)? In a general sense of things whats a good next move? Or at this point is it pretty much wash, rinse, and repeat? Any suggestions on books and videos are appreciated as well. Thanks

[Anthony Gayden]

Originally posted by @DeMario Drummond:

I backed into REI a little over 2 years ago. i chose the buy and hold method and i have no real complaints so far. Just looking for someone with more experience to give their opinion or tips. I have two single family properties paid cash. i plan on buying a third, possibly a forth before the year is out(cash). I have an LLC with one property under it, the first one i purchased is still in my name. Is an LLC per property sensible? Any advantages or disadvantages to the way its currently set up?

I have a business phone and number established, but i didnt need that immediately lol. I write it off, but still. Anything else i can wait on, or should stay away from...?? Getting a property management company worked out better than doing the work myself. I  I have a business bank account to separate funds, and thought it would be great to start building my business credit by getting a secured credit card. Is business credit necessary this early on? Any particular metrics i should be focused on(ie. Cap Rate)? In a general sense of things whats a good next move? Or at this point is it pretty much wash, rinse, and repeat? Any suggestions on books and videos are appreciated as well. Thanks

 I personally don't like credit cards, so I won't suggest that you get one. Especially since you are buying your houses cash. Why would you need one? 

I just read your other thread and now I understand a little better. Your houses are very inexpensive homes located in Detroit?