How should I approach this? Looking to Get Started with rentals.

2 Replies

I purchased my primary residence  from a tax foreclosure auction about 2 years ago for 90k cash...(free and clear) Its currently worth about 250k. 

I also own a commercial building free & clear I got about 5 years ago from a tax auction. I paid 10k for it its worth about 100k

I currently have 1 mortgage from 2007 for 57k that was my primary residence before my current one that a relative has been occupying and making the mortgage payments on.

My credit score is 780, and I have about 40k liquid for investing. Im looking to get started with rentals to increase my passive income. 

Any suggestions...?

I'd check out the webinars on how to get started and do lots of analyses.   It looks like you know what you're doing with foreclosures, though, so that might be what you want to focus on.  I've never bought a foreclosure, so I'm sort of jealous.  ;-)

Hey Jody,

Thanks so much for the reply. I guess i just realize that I have a bunch of equity in properties, but want to be wise about using it to invest to build passive cash flow.  The issues with the foreclosures that I purchased is that even tho I got a great deal on both of them, they generate zero cash flow...gotta change that and use the equity wisely

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