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Updated 5 months ago,
In need of some help/direction on what to invest on next.
Hello all, I am currently deciding what to invest in next. I would like to increase my cashflow by about $5000 extra a month. However, I am unsure what to move into next. Have been looking into Commercial Retail shops, laundry mats, etc. but I am a bit unsure how much I could "purchase" with my current cashflow/down payment. I don't have much experience with anything outside of rental properties but i am very willing and open to go into a whole new direction.
What I own so far:
- One Multi Family Building (4 Units)
- Six Single Family Homes
The Multi Family Building and one of the SFR are owned free and clear (Estimated value of $2.3 Million combined). The rest have a combined worth of about 1.5 million but aren't owned free and clear yet.
All Properties are collecting rent and generate about $16,500 (profit) a month in Cash flow after mortgages/expenses. Currently have about $250,000 in cash for down payments.
Any ideas/tips are greatly appreciated.