What to do next ? STR

[Joaquin Johnson]

Hi all, 

We are coming to a stand still in our Investing and would love to have your opinions on what to do next. Our goals are to buy and hold real estate and lately we are really loving the idea of STR.

We own two homes, and one with a ADU that we currently have listed as a STR.

House #1- bought in 2018 for 340k, now has a value of 525k conservatively. its cashflowing over $600/Mo. Our question is how would you go about the next step for acquiring more STR properties.. we have a killer rate of 2.5% so a refinance is our of the question in our mind. do we do a HELOC ? or are they any other alternatives you think would make sense.

House #2 is in the process of being updated but the attached ADU's Airbnb is pulling in over half of the mortgage monthly.

So that's our situation, any advise? 

[Kerry Baird]

HELOC is adjustable rate, so keep that in mind. Your strategy of buying a house and putting on the market as a STR with that ADU...do that again and again. It is working for you. Can you add ADUs to future properties, as David Greene talks about in a recent discussion?