1st post how to expand
I have 6 rental properties and have private financing on 5. I have about $250k equity in the homes. Problem is the cash flow. I have loans of roughly 1.3 mil and the purpose was to buy the homes and sell as the market turns. I pay 5% interest only and they are in the best parts of town, Richmond, Va, and schools. They cash flow well with interest only but wont with a conventional loan. I am currently at 99% financed. I will have some money to put down on the homes this year. Any thoughts should I refi and see about using the money again or should I take my cash and buy a few more houses in a lower price point out right. I am trying to expand the business and I started with no money.