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Updated over 9 years ago on .

User Stats

1
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0
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Tyquisha Gibson
  • Investor
  • Satsuma, AL
0
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1
Posts

Looking for guidance

Tyquisha Gibson
  • Investor
  • Satsuma, AL
Posted

Hello, I consider myself new to this real estate business. I have owned one rental property for the past three years . The property has no mortgage .I recently gave birth to my third son and have decided that working a full time job as an employee is no longer for me. I have set a goal of one year until a resign. My plans is to acquire enough passive income to substain me. My question is how can I use my rental property to help me acquire more properties? Should I get a mortgage on my property that's worth around 90,000 and buy another property or should I use  the money to put as a down payment on two or three properties? I have a mortgage on my primary resident and my credit score is pretty low I'm not sure if I could get a loan.

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