What is the next move?

Question

We recently bought our second 4 plex. I financed one using a FHA loan. And we got another one under the home possible loan which is conventional. I’m trying to decide what the next, best move is.

I am tore. I’m tired for living in a four plex and would like a small single family home but I know financially it will be better to get a couple more four plex s first.

When I buy my next please place, any recommendations on using equity from one of the other properties?

Joe Villeneuve · Answer

Any recommendation made to you here would be a guess, and have maybe a 10% (if lucky) chance of being a good one...for you.  Your next move should be based on your specific needs...not the people reading this question.  I guarantee you, once the suggestions start to build up here, all you will be is more confused.

So, your next move should be to design/develop a REI Plan that is based on your financial needs (not wants) so that you never have to ask this question again,...this plan will tell you.

Jonathan Greene · Answer

You can't discount yourselves in your real estate investment journey. You don't have to keep jumping from four-plex to four-plex. If you can stabilize eight rented units, maybe you can take a break and buy a house for yourself. Let the other marinate until you can refi out some equity from them. House hacking is great, but at some point everyone wants to live in their own home with their own yard, at least for some amount of time. Don't forget you guys can take care of yourselves and the lifestyle you want as well.

Ariel Valenzuela · Answer

Thank you for the advice!  Very useful information.