How to re-invest rental income?

[Lucas Kok]

Hello,

This is my first post and I hope to learn from others in a similar position.

I have 4 rental properties that cash flow between $200 - $1000 a month. Over the last 18 months that we have leased them out, we have built up a nice size "re-investment fund" of about $20K, with another $15K in reserves for emergencies. Since the real estate market has roared back with a vengeance in our city, great deals like the ones we got are no longer available.

3 of the properties are free and clear, the last one has a $140K mortgage. I am curious what you will recommend that I do with the $20K and growing fund. Leaving it in checking seems wrong. I look forward to your advice.

Thank you!!!