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Updated over 10 years ago,
Leverging a paid for rental.
I have two rentals and one is owned free and clear with a value of $80,000.
I also have been a landlord for over three years now.
I would like to leverage my $80,000 property to buy more properties and increase my positive cash flow. I currently am getting $675 a month positive cash on my paid for rental and would like to receive at least $300 a month on future properties that are financed.
My question is, what would be the best way to leverage this property and will the lender consider me a seasoned investor and work with me ?
Thanks.