Buy More Rentals Now or Later?

[Rob Bianco]

My family and I are planning to upgrade our living situation in a few years but we live in a HCOL (New York City) area so it’ll probably take that time to save up the down payment. Originally, I had thought that it would be wise to hold off on buying more rentals until after I had saved the money I needed.

Yesterday my Realtor calls me with a great off market deal. I have the funds to pull the trigger but it would be with the money I was already saving. ROI on the deal would be about 9% - 10% on a duplex in a B grade area. I have 2 other properties in my portfolio where I have 100% equity. I had planned to take out loans in a cashout loan but rates accelerated too fast in 2022 and I never got that chance.

But now that everyone is talking rate cuts I’m kinda thinking I take the deal and hope I can refinance these 2 properties at 5% interest (or less) sometime before 2028?

What do you guys think?