So far two properties..What’s next?

[Jonathan Vince]

IF you were in my shoes, what would you do to keep growing your wealth?

We currently have:

*Cash flowing SFR in Bakersfield receiving $1300/mo (good tenants but paying lower than market rate. I've been increasing it by $100 every year). No mortgage, but we are paying off a $100K investment loan at $700/mo that we took out against the property to help us purchase the following property:

*SFR in Prescott AZ that we are house hacking (we live in the larger portion). Mortgage is $2900/mo (at . . . ouch . . . 8.75%!!!). We partitioned a section of the home for longer term rentals like travel nurses, plus the occasional AirBnB stay. The unit brings in about $1800/mo. The property has good potential for another ADU (or two), but the cost to build might be prohibitive.

One thing that helped us get the (special) loan to buy the AZ property was the fact that I have a W-2 job AND my wife and I have excellent credit, AND our Bakersfield property is a valuable asset that could probably fetch $200K or more. Those were all factors that the lender found favorable. Other than that, our income is not great. My job situation may change soon, so that could affect our future loan and/or refi options.

Hope these are enough details for now. We have no other mortgages or car payments or other big liabilities. Happy to share more where it might be helpful.

Again, in the spirit of iron sharpening iron, I will be grateful for your thoughtful responses.