Hey guys, someone told me to check out Bigger Pockets when I asked this question elsewhere, so I'll give it a whirl by seeing if anyone here has any opinions about this. I'm a full time landlord now with three properties, and I've managed to accumulate $100K through short term rentals, long term tenants, and a bit of cryptocurrency on the side. It's not hard to find a duplex here for $80K. Does anyone have any thoughts on the best use of this money to step up my real estate game and buy more properties?
I figure buying a house with cash would give me some negotiating power and maybe I could talk them down $5 or $10K. Then I could cash out refi and buy another.
Alternatively, I could just use it for three downpayments and get three more houses.
Alternatively, I could just hold onto it and see if the market takes a hit in the next year or so, then be glad I waited for the right time to buy.
Anyone have any thoughts?
Assuming additional reserves set aside to maintain your current properties, I'd probably try to buy 3 SFRs or one larger MF.
Wait to see what happens with rates and the housing market , if it tanks then may be a buying opportunity. If it doesn't then you go ahead and buy. I'd rather be a little late than speculate on how the market will react to all of these changes .
Thanks guys. So you don't think the method of financing matters? Doesn't matter if I just get three conventional mortgages or attempt to buy in cash?
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