Updated almost 4 years ago on . Most recent reply
First Property Purchased/Rented … Now What?
hey guys, new to BP’s however enjoying reading the various topics discussed and find this group insanely insightful!
anyway, earlier this year i purchased my first investment property (a three bedroom single family home) for $45k cash. it needed roughly $45k of rehab work (again paid for in cash) however appraised at a whopping $195k (thanks covid)! i re-financed such to pull $100k out and am currently renting the home out for $1,400/mo (after mortgage/prop taxes i net about $650/mo) however am wondering what to do now …
is this where i split that $100k and try to pickup two more properties or? just wondering how those that seem to roll in a new property every year are doing it! any advice would greatly be appreciated!