Advancing - 6 years experience but need to level up
Hey everyone,
I'm an somewhat experienced investor looking for advice to reach the next level. I have a house and cabin with conventional mortgages. On investment side, I own a duplex and fourplex also with conventional mortgages. I hired a property mgmt company for both investments.
I have about 75k liquid to spend on acquiring more real estate. (I've worked my tail off for this money) I have a full-time job and 3 kids under 11 years old and don't have a ton of time to find deals.
Here's what I'm thinking to level up:
In order to get best deal possible, buy a property for cash. Rehab if needed, get in some renters, turn over to prop mgmt company. Refi this property with a local lender at 70% LTV and get cash back out. If the deal was sweet as I hope, then I'll have good cashflow from this property and cash back.
Repeat this process.
To find deals, I've been trying to find bird dogs and wholesalers, watching craigslist. Thinking about running an ad in local paper about wanting to buy. I'm feeling "meh" on working with a real estate agent.
I bought my investment properties over 5 years ago and feel out of the game.
Thoughts? Suggestions?
Thanks,
Todd