All Forum Posts by: Kevin Raye

@Whitney Hutten That’s  awesome to hear and very motivational. Thank you for insight. I definitely want to scale up, been sorta afraid of multi units but that’s just a mental thing I guess lol. Thanks again! 

@Brian G. will do man and thanks again!

@Whitney Hutten Thank you for your input and advice. I really appreciate it! Just scared to make the wrong move I guess lol. Want to leverage the property the best way that I can. I purchased my first investment property during the crash and had no clue what I was doing. Want to be more strategic, as I know I got lucky the first go round. Do you prefer single family homes or multiunits for your rentals? 

@Jon K. Wow, thanks for your time and input. My initial thoughts were to buy more rentals because ive been sitting on this one for awhile and wanted to scale up to maybe a duplex to a fourplex of some sort. Just really weighing my options but definitely want to see some growth this year. I will definitely look into the cash out option and weigh everything before moving forward. I hear these guys with 100s of properties and Im like damn I need to get going lol. Really want to set up passive income for myself and something to leave my children. Again, thank you Jon! 

@Jason Wray Thanks for your response. That is what I was thinking because I dont want to let these low rates get away from me. Figured now would be the best time. Appreciate it!

@Brian G. Thanks for your input. I definitely feel you on not using my own money. I hear people say to pull out the equity and buy more property and some say pay it off. Just wanted to know others opinions and yours definitely makes sense. Much appreciated !

@Jon K. Thanks for your response. I have a 30 year fixed through rocket mortgage. They initially told me that they wouldnt do LOC in an investment property. So I am trying to come up with the most sound way to use the equity that I have to me benefit.

I have a Rental property that is renting for $1850 per month. I owe less than 60,000 and my mortgage is around $700 per month. As of now the house is worth about 250 K. Should I pull the equity out and buy more real estate or should I work on paying off the current mortgage. Any advice would be appreciated.

@Jaclyn Peyton thanks for that tip. I actually did not think of that.

@Robert Leonard thanks for you reply. I only have the 35k loan with the hard money lender. The other debt is personal loans, credit cards, etc. I bought the house for a great price and its cash flowing but im tired of throwing away money on an interest only loan.