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Updated 1 day ago,
Need Advice on Next Steps for my Real Estate Portfolio
Long time follower of BP in Canada first time poster! Don't grill me too hard.
I own three rental properties, one is my primary residence with an apartment (5 units total between 3 properties: 1 airbnb, 2 medium term healthcare leases, and 2 long-term rentals). I net about 3.5-5k a month(depending on airbnb) after all expenses including my primary residence and utilities there.
I have built up a good amount of equity in the houses due to the renos I've done mostly myself and also from buying low during covid. I think I have about 450-600k equity depending on how well the properties appraise. I have very little debt besides mortgages and have spent my own money doing renovation over the last few years. I dont really have a lot of cash on hand (due to renos) and don't have any big loans or LOC to draw from.
I have a background in civil engineering and have a good understanding of residential housing and construction. I want to work my way into anything full time because I have a decent job now but eventually i want to have real estate/construction replace my income.
I've thought about commercial real estate and/or residential house building but dont have any knowledge on where to start. I have a very basic understanding of the financing aspect and really just stuck on what I need to do next and who I should be contacting to move forward.
Any help is welcome, thanks