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Updated about 6 years ago,
Next step? Need recommendations
I have 2 single family rentals (both with good long term renters) and a primary residence. I want to increase my portfolio but am unsure as to what to do next. Another single family rental? Multi-family? out of state? sell one and hold? BRRR? pay down Heloc on primary residence? Looking for advice. The money would have to come from existing RE investments. Not interested in wholesale, notes, or flipping. I value Bigger Pocket's opinions. Thanks
1. Primary residence - Washington state
value = $700,000
mortgage = $410,000
heloc = $72,000
2. Single family rental - Washington state
value = $340,000
remaining mortgage = $177,000
rent/month = $2000
payment/month = $1250 (plus HELOC from primary residence $350) = $1600
3. Single family rental - California
value = $190,000
remaining mortgage = $82,000
rent/month = $1050
payment/month = $600