New Member Introductions
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
First post and a question!
Hi, my name is Keith and I'm new to BiggerPockets. I live in the Everett area of Washington state. I found the BiggerPockets podcast about a month ago and have listened to the first 30 and plan on listening to all of them. I have been somewhat of an investor for 15 years. I read all the books when I was younger and started out in my early 20's. I currently have 2 investment properties. The first one is a single family that I have about 110k equity in that I bought in 2000. The second is a duplex that I have about 140k equity in that I bought in 2002. Basically I have always rented them for below market rents which kind of forced me to be almost a slum lord. I'm going to fix up my properties and get the rents up to market rates.
Duplex mortgage is 283,000 and the ARV $425,000 and should be able to cash flow around $800 per month.
House mortgage is $262,000 and the ARV $375,000 and should be able to cash flow around $300 per month.
I guess my question is what would other investors do after doing that if you were in my place? I am interested in buying more but currently there is few multi family units available to buy. I'm also not sure about my options for financing since I did have to short sale another one of my properties in 2013 but my credit score is still 720.