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Updated about 6 years ago on . Most recent reply

User Stats

23
Posts
15
Votes
Ian Olmsted
  • Investor
  • Monroe, NC
15
Votes |
23
Posts

What is my next move?

Ian Olmsted
  • Investor
  • Monroe, NC
Posted

I moved to NC back in February.  I've since bought 3 rental houses, average price was $75k, average rent is $900+.  I just came across a house that is way underpriced, sold for $180k 4 years ago, now selling for $90k.  All issues are cosmetic.  I REALLY want to buy, but am down to my last $10k cash and don't want to take reserves any lower.  All my rentals have 25% equity.  What strategy could I use to get this new one with minimal cash outlay? I could pull $30k from a 401(k) loan, also have about $10k in Roth contributions I could pull out.  Ideally the value of the home would warrant no money down.  Any ideas? Thanks in advance!

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