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Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
1
Votes
Tyler Darby
  • Rental Property Investor
  • Lumberton, TX
1
Votes |
6
Posts

What to do with current property?

Tyler Darby
  • Rental Property Investor
  • Lumberton, TX
Posted

I currently have a property I am living in. Mortgage is $1205 a month. I am renting out two of the three bedrooms for $500 per month so it is almost paying my mortgage. I bought it for $168K and did a complete re-model of both bathrooms, flooring, walls, ceiling, kitchen and garage. I have only been in the house for a year though so I’m not sure I could get another loan for a second property. My end goal is to buy a rent a few more single families bought I currently don’t have the capital to buy anything cash. I am curious as to see what some of you out there would do for your next move if you could put yourself in my shoes? Save more money? Try a hard money lender? Pay down the house more while I am hacking it out? Lead me in to a direction here! Thanks!

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