How best to leverage my assets

[Trudy Homer]

Hello, I am a newbie looking to dive into the world of Multifamily Real Estate Investing and not sure the best way to leverage my assets. I inherited a fully paid off single family home in the Bay Area valued at $1M that I am renting for $2850 a month with ~$1500 NOI.

My question is, should I: (A) take the cash flow from this property and save up to afford a down payment on a 2nd property, (B) Refinance my house and purchase an additional property outright, or (C) Refinance my house and put 20% down on multiple properties (or perhaps a higher value property)?

Mostly interested in looking into buy & hold, multifamily properties, out of state.  

Thanks for your input!

[Matt Ziegler]

Trudy,

My suggestion is to take some time and get educated first. Clearly define your goals, then decide on a plan of action. Read , listen and learn from others who have experience, local REI groups,podcasts,etc.

Then take small steps and learn from your mistakes. 

Do you have a team established to work with out of state?

Option c from above would allow you to leverage your current asset the most efficiently I think.

Enjoy the adventure