is it enough? or keep grinding?

[Anthony Friday]

I have been kicking around the idea of rental properties for about a year and some change now. I had a couple goals i wanted to meet before diving in though. well, goals met. i currently have about 10k saved up and mid to upper 700's credit score. realistically, is this a good place to start or should i grind the paycheck a little harder and save a little more? 

[Ronald Allen Barney]

@Anthony Friday one year of payments on a primary residence will probably not be enough equity to make it worth the closing costs of a cash out refi to boost your funds.  Most investors in your position go with hard money loans to get in on a deal with the cash is dry, but here you have to be careful about your numbers.  Make sure the property can rent out at a high enough price to repay the hard money loan as well as the mortgage, cover expenses and taxes, and still bring you cash flow.  If those numbers don't work keep grinding and saving and keep a keen eye out for other deals.