Leveraging cash to purchase rentals...
Hi, I need some advice on how to leverage my cash on hand to purchase some rental properties. I have about $80k and im trying to figure out how many properties I could probably purchase if I leveraged that cash in today's market. Would it even be close to say I could put $20k down to purchase 4 properties? Here are some more specifics:
My husband and I have excellent credit, and very low DTI.
He makes about $90k a year, and we have 1 mortgage on our primary residence for about $275 (i believe the home current value is about $350)
We also have a condo we own that we paid in full with cash that is being rented out. I was also considering trying to get a cash out loan on that property so I can leverage that money as well.
I have no idea what a good game plan would be using our cash on hand & our property assets to purchase income rental properties, or how to allocate the money most wisely.
I guess what I'm looking for is someone that is a mortgage broker/ creative Financing that could help guide me in the right direction. Any help/ advice is appreciated 🙏 thanks!