Income property currently generates $1500/mo in rent.

It generated good discussions and teaching points.

@Mike McCarthy you're right, I will look at the numbers and decide if it's worth the refinancing.As a rule of thumb you would consider to purchase a unit that generates positive cash flow from day one not taking into account your total portfolio?

That is simply "calculated LUCK"... yet "luck" nonetheless.If you really want to make it as a successful investor, start thinking about real lead generation methods.SEO, FB ads, PPC.Stop it with the lists.Go out and find that the cost/deal is for PPC or facebook ads.

@Anthony AngottiReaching out to debt partners is a great way to generate cash.

Just some food for thought:I think you're going to be in a similar boat on many properties...it's going to be a real unique property that you can get into with a low-down, Owner-Occupied loan that has the opportunity to drive enough value to pull money out while generating enough rents to cover the new, higher loan amount.

So, hopefully you can see that your rental is an awesome piece of wealth generation.

However, their at home watching the news being paralyzed with fear and will be very hesitant to work with a stranger during this time.All strategies work but I believe it will be good to focus on facebook leads and creating a website to generate leads.

.- Look for a mentor- if you show that you are legitimately interested, full of energy, and willing to get in and do the work, lots of people will be happy to let you learn from them.

Hello Lane,In NY, we received notice 2 days ago that Realtors are no longer allowed to cold call indefinitely.Since this is the majority of our 'future' business, the only 'now' business we can generate through phone calls is to people we already know or have already spoken to.That being said, we are ramping up our marketing efforts because incoming leads/inquiries are fair game.