Advice on next move, ..how to scale

[Jason Young]

Hello BP Fam,

I'm trying to figure out how to scale to the next level and seeking out advice. I bought a Condo with cash in 2016, I put in $25k worth of repairs and I've rented it out for 4 years now. The returns have been great, I couldn't have found anywhere else to put that money to make those kind of returns. At the same time I've been a bit cash strapped because I dumped almost all my savings into this property. So scaling to the next level has kind of stalled out. I've played around with scenarios and not sure where to go next. 

With the amount of cash flow it has generated for the last 4 years and with appreciation, I've basically doubled my money. That's great right, but I'm having trouble with my next move to scale. I could keep it forever and just sit on it or hopefully come up with a plan to scale. I'm at the point right now where I'm thinking about cashing out and selling it and then basically do the same thing again, but I'm having second thoughts now. Should I try to do the BRRRR strategy, cash out refi to get another one, etc?

I feel like I should sell it now while the sellers market here is high and then wait a year or two because I feel like we might see another foreclosure season during that time.

Any advice for a regular guy trying to make the next step? I love the idea of having passive income, but I want to find a way to maximize on what I've already established. I feel like I have pretty good start, and as a bonus my wife is a RE agent. I'm just ready to take things to the next level. 

Thanks,
Jason

[Sarah Brown]

Are you able to pull a HELOC on it and use some of the funds form that for a DP on the next property? If your goal is cashflow, and it's cash flowing, then I wouldn't sell it. Just leverage it for your next investment.