260k equity, ok job and excellent credit, what to do now?

[Khaled Majouji]

Hey all,

Ok I've been stalled for a while (well since I got my first triplex wich I still have), things are getting boring and I wanna get active again! What I'm trying to find out is whats the most profitable way to go about it with my current situation. So here are the numbers:

-I have 260k in equity in a triplex I've owned for some time (I also live there)
-I have a full time job earning 41 000$/year (been there 5 years)
-I get rental income of 850$/month from the unit that's rented
-My credit score always hovers around 740
-I have no credit card debt or any type of debt whatsoever except for the mortgage on the triplex (155k left to pay)

What's the most profitable way to take things from here. I thought about rehabbing, but how should I go about financing? I can't sell the triplex to pull the equity out since it's also my house. By the way there is no subprime mess and no real estate bubble here so banks make regular loans and properties go up on average 8% a year (18% in my area for the past three years!) wich makes it hard to find properties at 70% ARV minus repairs. I was also wondering if it would kill all my profits if I hired all the repairs/upgrades out. I'm willing to supervise workers but I would rather spend my time trying to find my next (great) deal in order to keep the ball rolling in an efficient (and profitable) manner.