Starting Out With First Property

[Murray Reginald]

Hello All, I am really excited about what me and my wife are working on, and that is financial freedom or passive income as an investor. This is our current situation: - Cashflow: $2500 monthly - Mortgage: $4000 monthly $303k big loan $56k small loan We are using our cashflow to pay an extra $2500 every month on the mortgage principal to keep the bank from robbing us blind. My question is, should we even be looking at investment properties right now or should we pay off our mortgage which will be in about 6-7 yrs.? For emergencies we have a line of credit established $15k. I don’t want get in over my head so I am reaching out for advice. My plans are to pay the mortgage off in 6-7 yrs and get a HELOC $200k to $400k and start investing in rental properties maybe with 2 rental properties starting out the first year and then 2 more the next year. Please let me know if I should reconsider my plans or does it sound solid.