New from San Antonio

[Ruben Dominguez]

Hi BP community,

My name is Ruben and I am from San Antonio Texas. I work full time in IT and I am looking to supplement my income with real estate, specifically buy and hold. My long term goal is to eventually quit my day job when income is high enough. I am excited to be here to learn and network and eventually contribute back! Sorry I have no profile pic yet...I promise I will get that done soon.

I have an initial question that I hope I can get some advice on.

My rental is only generating about $80/mo in cash flow at the moment. It is about 7 years in on a 15 year mortgage and has some good equity. Should I refinance to a 30 year to generate cash flow or refinance take the equity out to invest in additional properties? Or should I leave it as is and use my savings to buy additional properties?

Thanks again for any advice!