First Investment Property

[Daniel Boccia]

I am from NYC. My partner and I found a house in upstate New York. Purchased the house for $35k and put $45k into it. $80,000 all in. 2 family house with rents totaling $1850.00 a month ... House is worth $120k. Was thinking about refinancing and using the money to put down with a mortgage on one or two more 2 family homes. Is this a good start for me being I am new to this game? Thanks and appreciate any feedback

[Tchaka Owen]

@Daniel Boccia - you didn't list your expenses, however my guess is that the numbers are phenomenal! Yes, refinance the place and pull out your money then get your next one(s). After several rounds, you'll have mortgages being paid off by tenants, some positive cash flow and your $80k in your pocket. Great job!