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Updated almost 2 years ago,
What's my next step and how to scale?
I have 3 properties, I'd like to stay with multi-units but how do I scale?
1st property- Will cash out refi this year to payoff heloc & CC's, heloc will reset and will have access to capital again. Property will still cashflow.
2nd Property- FHA, will leave alone, as interest rate is high, only 50k equity, relatively new. Will need to spend 40k to rehab one of the units in 2025, as it is a commercial unit and leased until then. Other 2 units are renting nicely.
3rd Property- Cash flowing nicely, about 180k in equity, will pull out money at some time, will need about 35k to rehab one unit, other 2 are renting nicely.
With access again (once I refi) to my Heloc about 100K and equity of 180 K for property #3 minus 2 future rehabs stated above, it looks like I might have 200k.
What would you do to keep scaling, should I keep looking for deals on my own with limited capital or partner up?