Use banks money or flip to keep going

[Joseph Freni]

Hi Guys,

Excited I found this place and look forward to learning more. 

I'm from Boston, I'm a contractor and just started with investing in 2012. Slow start because every time I have to put 20-25% down and I'm out of cash after closing. 2012 I got a great rate on a single family so I really don't want to lose that rate. I bought it thinking I was going to flip it and realized the house was close enough to a university and ended up keeping it. Now I have a solid cash flow of 1600 a month after expenses. I'm closing on a 3 family in two weeks but I won't be left with 25% to keep going (which I really want to do). Here, in the Boston area, it's close to impossible to find anything where 30k cash down can buy you a house. This 3 family can generate me 2k in cash flow after expenses and I really would love to keep it. Got it for 355k and bank appraisal just came in at 490k. It's turn key, ready to make money. Since I'm a contractor and have a good network of leads, I come across deals all the time. I'm sick of losing out on them and want to keep going. Bank told me I have to wait 6 months to refi and cash out. I could miss out on a lot in six months. Any of you have some advice for me? I am considering selling one of the properties and that would really give me serious cash flow to take off but I'm afraid in 5-10 years I'm going to regret it. I want to flip RE and buy and hold. That's my main goal. But I'm stuck on the hold right now and it's slowing me down. I'm not looking to get rich over night either, don't want to come across that way. 

Thanks!