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Updated almost 6 years ago,
Portfolio of 4 Properties - Netting Apx $2000 / Mth - What Next?
All - Here are my basics and thank you very much for taking the time to respond:
- Property 1 - Leveraged, P&I payment of $1400, rents for $1850 (Paid $250k, going for $280k) ... For kids college
- Property 2 - Leveraged, P&I payment of $1380, rents for $1850 (Paid $240k, going for $270k) ... For kids college
- Property 3 - Paid cash, rents for $950 (Paid $50k, rehab of $20k, going for about $65k) ... Cash flow purpose
- Property 4 - Paid cash, rents for $1025 (Paid $75, rehab of $6k, going for $100k) ... Cash flow purpose
- Property 5 - Home, HELOC approved for $120k ... not used for anything yet.
Note: Husband / Wife basics: Both work, our income is about $200+k per year
**** Request, ask, question, guidance needed. What would you do with HELOC from primary residence and what can be done with Property 4? I know it "all depends" but what strategies would you use knowing my situation to grow this portfolio to 7 properties netting me about $3500 per month? ****
Thank you for your time.
Regards,
Mike Rehman