USING MY EQUITY TO BUY MORE PROPERTIES
Hello guys!!
Just looking for advice on what to do.
I have a sf investment property in Washington state that it’s paid off. It rents for $1500 per month and it’s worth around $330,000. After property taxes, insurance and reserves for maintenance and repairs, I get to keep about $1000 per month. (I self manage)
I currently live in Orlando and looking to buy some more investment properties sometime next year after I reach my two year work history. I’m thinking to pull some of the equity of my Washington house to invest in Orlando. Maybe $150,000 and use it as 20% down pmt on three condos or small sf OR maybe a apartment building. I have also looked into the possibility of a more luxurious condo in brickell downtown Miami for posible Airbnb or rental. ( long term goal for me is to move to brickell)
Just want to hear what would you experience investors would do in my situation??? Having a paid off house gets me piece of mind but I also want to keep investing to accelerate my freedom from my job.