New to investing. Looking for advice
Hello everyone! I am fresh to studying and starting into my rental investment journey. Here is my situation as of today. I have two properties. One is a personal residence that I picked up one year ago that i have completely remodeled. Estimated appraisal is now $175-200K. The second property is my previous personal residence (now a rental)which appraised for $130K. I have a total mortgage on the two properties combined of $160K. They are bundled under one loan. I think I can get the rental off the mortgage, free and clear, if I refinance with the equity of the newly remodeled property. The numbers wouldn’t change but on the books I would own my rental property free and clear. I’m looking for the next steps to take in order to start investing in more rental income cash flow properties over the next few years.