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Updated about 1 month ago on . Most recent reply

User Stats

4
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7
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Amier Tutie
  • Rental Property Investor
  • OHIO
7
Votes |
4
Posts

The Next Step

Amier Tutie
  • Rental Property Investor
  • OHIO
Posted

Hello, I wanted to get some general advice on what YOU would do. I am a semi experienced investor, current Real Estate Agent, in school for my Appraisal License and I work full time as a Property Manager for a company as well as managing my own rental portfolio.

My portfolio consists of 4 properties:

1: SFH 3 bed - 2 bath - 1536 sqft - Rent: 1600 - Mortgage: 1025 - Balance: 101,000 - Value: 150,000 - Interest: 8.125% - Purchased: 04/2024

2: SFH 3 bed - 2 bath - 1668 sqft - Rent: 1775 - Mortgage: 1020 - Balance: 127,000 - Value: 203,000 - Interest: 3.25% - Purchased: 07/2021

3: SFH 3 bed - 1 bath - 864 sqft - Rent: 1125 - Mortgage: 475 - Balance: 48,000 - Value: 110,000 - Interest: 4.5% - Purchased: 06/2020

4: SFH 2 bed - 1 bath - 770 sqft - Rent: 925 - Mortgage: 370 - Balance: 50,000 - Value: 100,000 - Interest: 5.49 % - Purchased: 05/2019

We recently had a move in flip that paid off all of our personal debt. Our only debt is a new home (another move-in flip/rental at some point in Fairview Park) we moved into which is at 2100/mo mortgage and my student loans that should be paid off at the end of this year at 80/mo. No other car loans/credit card debt. I am very happy with how far we have come considering that my husband and I are 27 & 29.

We are hoping that we can find the next flip so we can buy it, and my husband can quit his job and focus on flipping and maintaining our rental properties while I manage them and still continue to work until we get to the point where we both can just focus on our rental portfolio.


I personally believe that our rental portfolio thus far is pretty solid. We have had no vacancies, no tenant issues, no late rent, and the properties are being well taken care of due to my very careful tenant screening. I believe we have quite the system built in where we are doing pretty good.


I wanted to get input to see if there is something that I am missing, whether it might be better to cashout refi one of our properties to buy more or should I sell one because of the value. I am familiar enough with 1031 exchange although I have not done one but again I feel like our rentals are strong and we should only be looking to buy more with the rental/personal income until we then need to revisit.


Any advice or insight is appreciated even if it to just leave it how it is and just continue what we are doing. I just want to make sure we are looking at our options if I am clearly missing something.

Thank you all!

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