Financing more single family rental homes.

[Benjamin Fye]

Hi, very new to this site and have been listening to the podcasts (which I feel are a wealth of knowledge).  I will give a little bit of a snap shot of what I have going on.  I live in MN in a city of roughly 90K people.  I currently have my primary residence with approx. 100k in equity.  I also have three other single family rentals.  These are all close to two major colleges and the houses are rented to college students.  I have put 20% down on the three rentals and financed them with 30 year fixed mortgages (3.75-4.5APR).  I have 318K currently financed on the three properties and they are worth approx. 510k.  I profit a little over 3k a month after all the bills for the three houses are paid.  I also have a career that I make 75k-85k per year.  I would like to secure another 2-3 houses this next year.  My question is should I refinance my rentals for the down payment on more investment properties?  Pull out line of credits on them?  Or go a different route?  Thanks in advance for any advice and I apologize if this isn't posted in the right spot.

Thanks, Ben

[Jordan Moorhead]

@Benjamin Fye I’d look into pulling a line of credit on one or a few of them and BRRR the next few. You have some conventional loans left and if you can get into them and rehab them you may be able to get the cash back out to do it again!