Starting out investing

2 Replies

My name is Robert I own a duplex and Mobil home that's paid off with $1165 space rent. Owned the duplex for 4 years now and it's gained $200,000 in equity looking to cash out refinancing to purchase a new property and add a ADU to the duplex's garage. I'm currently getting $3100 monthly with a $2400 mortgage payment.

Great! What's your goal? What does your net income after debt service become after you refinance? It looks pretty skinny as it is, before paying for repairs and accounting for maintenance.

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