Next best step? Need advice!
I currently have one property listed on Airbnb. However, I just listed it within the past week. I've had one booking so far, but I'm trying to figure out my next move. This is so I can be looking at my next market, to see what a good deal would. The property that I have does not have a lien on it. It is a smaller property, and might be worth $70,000.
What I would like to do (Tell me if this is a good idea or not, or tell me what you would do). Is to build a cushion, maybe $10,000 (I don't know the exact number)? Then refinance my current property and use that as a down payment to a small apartment complex (5 to 7 units). And increase the value of that apartment complex, to increase the equity. I'm stumbling through this, but I know that multifamily is going to get me to where I want to be quicker. I just need some guidance, any advice would be greatly appreciated!