Next step a year after our first deal
Happy Holidays all,
My wife and I bought our first duplex in Southern California in January 2021, it consists of a 3bd/2ba main house which we currently have rented and a 2bd/1ba back house which my wife and I live in. We purchased this duplex with an FHA loan and spent about $7k renovating the main house in order to get it in the best condition possible. We know we have some equity in our duplex but not enough to get out from under the FHA loan. Ever since we closed on this duplex my mind has been thinking about the next move, we have saved up some money but I don't know how to leverage our current property and turn it into a second duplex, I feel a bit frozen and would love some suggestions as to how we can start growing, what should our next step be?
Thank you in advance,
Mario