60k to invest.. whats next?

[Nick Liddell]

Hello everyone,

I am a first time poster and relatively new to the real estate investing scene but I am kind of stuck on where I should take my next steps.

A little about myself:

I'm 25 and purchased my first property last year. I have been renting it out on Airbnb for a few months now after moving in with my gf and doing quite well with roughly $1800 cash flow positive per month. The property is worth 210k and I owe about 140k on it.

This is a more detailed breakdown on that property,

Purchased the property for 195k, put 40k down, did some renovations and had it reappraised for 210k

HELOC payment- $1150 per month

Utilities: $250 per month

Taxes- $200 per month

I have had it on Airbnb for 3 months now and am averaging $3100 per month (June, July, Aug). I do expect this to come down a little now that the summer months are coming to an end.

$3100- $1600 = $1500 cash flow.

I have another 80k saved up and would like to put about 60k towards my next property (leaving 20k for emergency funds, rehabs, personal fund etc.)

I have zero debt (no student loans, no car payment) outside of the HELOC I had to purchase the first property I stated above and most of my living expenses are paid by my employer (car, gas, cell phone).

I am based out of Central Pennsylvania and am looking to stay somewhat locally for my first few properties (Harrisburg, Camp Hill, Lancaster, Hershey etc.) and am not really interested in out of state investing.

Just looking for some advice or input on what you would do next if you were in my situation,

Any input and info would be greatly appreciated,

Thanks!