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Updated over 3 years ago,

User Stats

6
Posts
1
Votes
Matt K.
  • Investor
  • NC
1
Votes |
6
Posts

portfolio growth advice / refinance

Matt K.
  • Investor
  • NC
Posted

I am just getting started and still very new to this. I just recently purchased my first 2 rentals (in the last 60 days). Both are 3bd/1ba SFR in NC. Each were about 30k down, conventional financing. They cash flow ~$300/month each ($600/month total). My ultimate goal is around $10k/month in rental income. I'm saving 2-3k per month but to gain the cash for more purchases appears to be very a slow approach.

We have about $250k in equity in our primary residence.  Obviously not much equity in the rentals since just purchased.  Would you cash out refinance the PR and buy more rentals?  

What processes / approaches have folks used to grow their portfolio more rapidly?


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