Need advice on what my next move should be
Hello, I am currently a low experienced buy and hold investor. I own 1 duplex in my area that is only breaking even (possibly cash flowing a little bit during the summer months) with maybe $25,000 in equity. I just purchased this duplex 1 year ago for 3.5% down but have moved back to my small house after my mandatory year of living there. My house has about $70,000 of equity in it, but I still owe $160,000 on it using a 15 year mortgage. If me and my wife are semi frugal we can save about $20,000/ year since we live below our means anyways. In 1 more year from now all of our loans will be paid off (except for our mortgages) and I'll be able to save 30-35,000/yr. All that being said if YOU were me what moves should I make next? Try to pay off my house mortgage asap? Take equity out of my house to purchase another multifamily? save up %20 for a down payment on another multifamily (since my wife does NOT want to house hack again, and duplexes around me cost between $300K-500K, that would be about 80K id need for %20 down)? Anyways any advice would be awesome, especially from you experienced investors out there! If this helps, my overall goal is to stop working at my day job as soon as possible. Thanks!