Need advice from experienced investors.

[Joshua Roberts]

I own a 4 unit rental property which produces a good amount of income. I've been watching video after video and listening to quite a few podcasts covering the BRRRR strategy and have become obsessed with the idea. I want to start investing in properties using this method starting early 2020. My question is, should I use the money I have now to rehab my current property in the hopes of refinancing a greater amount of capital out? Here are some of the numbers to make it less vague: I paid 163k for the house, I owe about 140k, I have about 20k saved up. I've also seen some properties in the area with less units go for 250k and up. Thank you

[John Underwood]

@Joshua Roberts My thoughts are that you already are making good money on the Quadplex. You don't have a huge amount of equity in the property. I would use the 20K as a down payment on your next investment property.

I would look for a fixer upper/foreclosure where you can by at a discount, fix it up have good equity right away and then BRRRR.