Have money in the bank... what next?

[Francisco Morales]

Hi Everyone! I am so glad that I finally came around to participate in this forum. I have been a huge fan of BPs for as long as I can remember! Long story short, I live in Las Vegas and our market is hot and inventory is low. Thankfully, at the age of 20, I purchased a fixer-upper fourplex for only 65k! The property has excellent cash flow and is a gem. The four-plex is now worth about $400k--my primary home is worth about $330,000 (owe $150,000). Recently, I was able to do a cash-out refinance in the amount of $245,000 from the fourplex and I also established a $65,000 HELOC on my primary. Essentially, I have about $300,000 of borrowed money to turbo charge my portfolio, but I must admit, I am nervous as heck. It has taken me ten years to get to this point and I am unsure what strategy I should use moving forward. Obviously, I am really tempted to find a good deal to flip, but just want to get your thoughts on what to do next to grow my portfolio. I have great credit and good W-2 income. Thanks in advance!

P.S.: would love to meet any investors & business associates in Las Vegas! 

-Francisco

[Mike D'Arrigo]

@Francisco Morales if your goal is to flip, I would recommend sticking to quicker flips rather than longer term projects. I don't foresee any big bubble but there are some indications that the heated pace of appreciation in some markets is starting to cool.