Iv got a house in MI and i have $30,000 in it and get $670 per month but can increase to $800 next year, my question is all my money is tied up and no more funds how can i (i live in uk and a uk resident) buy more property? how can i raise cash? i was thinking Lease options as they are low money in deals, should i sell my rental and use profits to buy say 3-4 lease options?
I guess i wont be able to refinace?
Dave, if you hold on to the MI rental I would definitely make sure you have a decent emergency fund before even considering to make another RE investment.
Yes its always a good idea to have funds for a rainy day!
Seems there are some good opportunities in MI, but I need cash or a creative stratagy to expand, seller financing looks a great idea but also I really like lease options but as I live out of country I don't see how I could find these deals?