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Updated over 1 year ago on . Most recent reply

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Gary Castillo
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Own a 3 family in Brooklyn, How to invest in a 2nd property.

Gary Castillo
Posted

Early 2021, I closed on a 3 family house in Brooklyn NY. I currently rent 2 units collecting $4,150 a month. When I bought the property I closed at an interest rate of 2.5 so I think I did pretty good. I want to keep this house for a very long time but I eventually want to move into another house and keep my current home as all rental. 

What do you guys recommend is the best way to purchase another home, while trying to keep as much money in my pocket as possible. 

I put 3% down for my property in Brooklyn , and it will be nice to be able to buy another house putting very little money down. 

Extra info, my girlfriend and I co-own. We are not married. I thought about taking myself off the title and waiting until I qualify for an FHA loan.

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