Closing today on a duplex, all in 90k, rents 900/900, value about 130k This is my norm.

I've heard of folks using the equity in their rental properties to purchase additional properties and I'm trying to learn if this would make sense for me.

As a quieter person, it’s reassuring to know that others will enjoy sharing their journey, and I’ll definitely use that approach.Also, I’m glad you commented on this post because I actually found this meetup indirectly through your podcast with Andrew Freed.

Hi Sasa, glad to have you as a part of this awesome community!

I’m a hands on type of person so I will be focusing on properties in and around Tampa, Florida so that I can be up close and personal and learn as much as possible.I’m excited to be a member of this community and I look forward to exchanging ideas, strategies, and gaining knowledge from all of you as I dive deeper into this exciting world of investing.

Obviously I would charge more for this (research shows 25% - 35% over LTR rate), and I wouldn't be furnishing the house.

This documentation will be helpful if you ultimately decide to charge the tenant for repairs.

Not all lenders will allow this, that is called an Overlay, but per guidelines, this is allowed since 2017.

Thanks everyone for your feedback on this. 

Fast forward 5 years later and the value of this house has gone up 250%.