BRRRR How do I scale?
I just recently bought my first income property out of Stockton (triplex) and have been renting it out. I did an FHA with the 3.5% down. I am looking to start scaling but don't have much money to invest with the next property. I am also looking to buy a big home for my family next year as well. I wanted to save for a down payment here in the bay area as you know everything is super expensive. The next investment I am looking to invest in Colorado Springs, San Antonio, and Arlington. I have them narrowed down to doing out of state because its cheaper and possibly another in Sacramento area.
I guess my question is what is my best option as far trying to put as little of my money into my next investment?
I make around 100k a year and do have a little saved up but not enough for a bay area home yet. Next year I will get a raise and be able to account for renting out all 3 of my units.
Is a HML my best option? and if so what rates should i be looking at if I was to get a HML? Im very new to BRRRR so Im trying to do my due diligence and cover all my basis. I am trying to scale because I work in construction and don't want to work in it forever.
Thanks in advanced.