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Updated over 5 years ago,
25yr old landlord/ bought my properties in cash (need advice)
Hey biggerpocket community! This is my 1st post but I've followed this forum for quite awhile. I'm 25, I own 3 properties and bought them in cash. I'm currently in the middle of closing on another property ( financing for 100k), but this one will be a house for myself and I will rent out the property I'm living in now. A break down of my properties
Property 1. Bought in 2018 for 40k cash, 2bd 1ba, C class area, renting at $835 a month. Has appreciated modestly since purchase.
Property 2. Bought in 2019 for 37k cash, 2bd 1 ba, C class area, needed small repairs, I moved in and fixed everything, its move in ready..as soon as i move out lol it will net $700-$750 a month
Property 3. Bought in September 2019 for 25k cash, 2bd 1ba, C class area, currently under renovation, should be completed within 3 wks, will net $700-$750 a month when ready.
I really wanted a small piece of advice, I have roughly 90k in liquid left, I found a property for 45k, tenants already in place paying $800 a month ( its a 3bd so theres plenty of room to increase that after expiration of lease.) Should I buy it? I'm going to also be plunking down 33k on the house I have under contract which would render my liquid under 20k. Or should I wait a year or 2 before buying another investment property?? All of my properties are in Newport, KY