Build reserves, buy next house or pay down debt?
I just recently purchased my 4th multi-family property this summer and now I am debating what my next step should be. My current goal is to reach 8k/month in cash flow. Here are my options as I see them.
1) Build up a separate capex reserve fund
I have about 13k in savings and 25k in Roth IRA funds which I can withdraw tax free as a backup, but maybe I should build up a separate capex account since I don't have a designated one.
2) Purchase another 2-4 family
I could use my 25k Roth funds as down payment on a 5th property that cash flows around $500/month and look to do a BRRRR. I don't think I have quite enough equity to do a cash-out refi (Each of my current properties cash flows between $500-700/month)
3) Pay down debt
I have about 15k left on a car loan ($300/month) and 25k left on a 401k loan ($650/month) which I used to fund property 3 and 4.
I am curious to know what you guys would do and am open to any other ideas! Thanks in advance for the input.