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Updated about 3 years ago,
SEEKING LIFE GUIDANCE...from all of you
Hello Fellow BPers,
Just need some reassurance, constructive criticism, or to be told I'm an idiot.
Currently I own 2 rental properties, here are the breakdowns,
3Bd, 1 Ba Located in Ogden Utah:
Market Value 320k
Amount left on loan 59k
Currently rented and cash flowing 1200 a month
2Bd, 1 Ba Located in Wake County North Carolina:
Market Value 185k
Amount left on loan 105k
Cashflow 800 a month
Currently living in North Carolina and plan on staying here, sick and tired of making 16 bucks an hour cooking, I have 2 kids and just found out we are having a 3rd so I put my two weeks in and want to dive more into real estate. I know how to run heavy construction equipment and cook at a high level so I can get another job tomorrow if I need to but I want to make a run at real estate full time. My question is if you were me would you sell my Utah house and take the roughly 250k and buy more rentals in North Carolina? Utilize a HELOC? Sell both houses? I am open to anything and everything as far as ideas go. I have done all the renovations to both properties myself and plan on doing all the renovations myself until it doesn't make sense anymore. Thanks in advance I'm just in a limbo and need some numbers to reassure me I can do this.
-Bryan