All Forum Posts by: Aroldo Gonzalez

Hello everyone, I am contemplating on purchasing another property in SLC. But with the new high interest rates it is very hard to decide if I should wait or bite the bullet. My current property was purchased in 2020 with a 2.4% interest rate . I am currently running ads to rent out the entire property and will be able to bring in $500-$800 in cash flow after all property expenses and have received multiple application requests. I do have a bit of equity to in my current property and was wondering if it would be better to pull a HELOC and buy another property, refinance or sell?

I am an 23 year old Landlord that currently lives in SLC UT. I am interested in buying my second property but do not know where to start. My current property has a estimated $100k-$110k in equity and I am making a lot more at my current full time job. What steps would anyone recommend?