hello from oregon

[Nic Sherman]

hey all. I bought my home 5 years ago near the bottom of the market for 97k. Now after a little work and a booming market its worth about 230kk.

I'm planning on a refi in September to pull about 120k out (staying below 80% loan to value to avoid PMI) to buy one to three rentals.

If I buy one rental I'll be paying cash for it. If I buy 3 I'll put 20% down and keep 30k around for renovations and vacancies.  If I decide on two it'll be somewhere in between. 

I'm not buying three at once but more like one a year until I find my comfort level. 

I've rented rooms before and its my opinion that people who rent rooms are the most difficult people to deal with for several reasons so it should be easier renting houses, right? 

I know going in that the houses I buy will be working houses. Like I told my kids when we bought two cute littlelittle 5 week old bullbull calves. "Dont get attached. Were going to eat them in 18 months" (and we did) I'm going to try to keep these houses at an arms length so I'm not personally offended every time I have to replace the carpet. 

I have 10 months to learn just enough to get myself into trouble. 

What's next?