What would you with this scenario?

[Garth Richards]

I'm looking at really taking the next steps as a Real Estate Investor after 7 years of experience in being a Landlord with our only Rental. I have a Single Family Rental Home in Fresno CA with $67k left on the loan. It Zillow's at 185K and I rent it out for $1,000/mo. Mortgage is only $540/mo. Its not in a great part of town.

Would it be most advantageous to pay off this loan and then REFI? I'm looking at starting an LLC and using some Retirement Account Funds to pay it off and then REFI it to get the ball rolling on another Rental. Is this a solid idea?

[Max Bullock]

Great reply Sue, thanks for all the information! I'm a new property investor living in Visalia CA and currently working on my first house back. Having a blast with it and designing an ADU for my attached garage, pretty much planning a separate studio apartment. Thanks for all the links and info!