NEW REI in need of helping developing unique strategy
I'm a newbie in REI but have owned a few properties here and there as rentals, but never considered myself an Investor. I have a relatively unique situation and wanted the BP pipe hitters to help me out.
I own, outright, a condo in ABQ, NM, which cash flows at $675/month, rented to reliable tenants with next to zero issues for 3 years now. Condo is appraised at $150K.
However, That $150K in equity is sitting there unused, at a relatively low rate comparable to multiple strategies I've seen reading Brandon's books and his strategies and seeing deals across the BP forums.
As a new investor I see a few options but wanted to get your valued opinions. Should I:
1) Trade up vertically using $150K towards Commercial Multifamily (5+)
2) Trade across horizontally to multiple Smaller Multifamilies (4-)
3) Hold what I have and put my savings (Approx: $80K) to work for me?
4) Mixture?
5) Don't stone me as a new investor, but should I look into a 1031 Exchange to defer the taxes?
I know I didn't give you guys a ton of other intel but I'm hoping to build a strategy to maximize the 4 wealth generators, because as of now I am only using 3 (no-debt service pay down).
Thanks and have a good one.