What would you do in my situation?

[Logan L.]

Hi BP community!

I am looking for some advice. I am a newer investor located halfway between Raleigh and Fort Bragg, NC. My wife and I currently have two investment properties and our primary residence.

House 1 is located in Fayetteville. It is a 4 bed 3 bath that I purchased for $145k. Mortgage is $920, it’s currently rented for $1,700 and is worth approximately $200-220k. 

House 2 is located in Spring Lake. It is a 3 bed 2 bath. Purchase price 93k. Mortgage is $500, it’s currently rented for $1,400 and worth approximately 145-155k.

We have about 90k in savings but would like to keep at least 30-40 in reserve after our next investment. I am 28 years old, active-duty military and my wife is finishing up grad school this winter. I have read several books from BP and am an avid listener of the podcast so I am familiar with most of the common investing strategies. In general, properties to the south of my location tend to be cheaper while north of me are more expensive to due the Raleigh/Durham area expanding south. I feel a bit conflicted about what my next step should be. Do I continue buying mostly turnkey single families? BRRRR? Multifamily? Should I target cash flow or appreciation primarily? I would appreciate any thoughts and feedback you have for me, thanks!