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Updated over 10 years ago on . Most recent reply

Brooks Everline's profile image
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Brooks Everline
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Brooks Everline's profile image
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Brooks Everline
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  • Member since Dec 16, 2014
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Brooks Everline
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  • Falling Waters, WV
10
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Buying & Selling Real Estate

Growing my rental portfolio

Brooks Everline
  • Specialist
  • Falling Waters, WV
Posted

Looking to expand upon my rental portfolio.  I currently have one rental that I have owned since 06.  I have a very small mortgage with lots of equity build up.  It is in a sought after neighborhood, school district, etc..and produces serious cash flow ($700-800)/month.  Looking for opinions as to whether or not to sell this income property to use the large chunk of cash to move into multi family or hold onto it and find other creative means of financing multi family deal?  BiggerPockets thoughts greatly appreciated.

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J Scott
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ModeratorReplied

Why not increase leverage on that property (refi) and use the cash you pull out to purchase one or two more?

  • J Scott
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