How am I doing?

[Andrew Hankinson]

Hello Fellow Investors,

I hope this post finds you all well and thriving in your real estate ventures. I'm reaching out to the community for some guidance and insights as I navigate through my own journey in the real estate market. I started my real estate investment journey just four months ago I am 22 years old and I'm eager to hear your thoughts on how I'm doing so far.

To provide a bit of context, I've acquired a duplex for $96,000, generating a monthly income of $1,650. Additionally, I've invested in a trailer park with a purchase price of $200,000, bringing in a monthly revenue of $4,650. Taking into account my monthly mortgages, which total around $2,300, I'm in a solid cash flow position.

Now, as I look to the future, I am keen on expanding my real estate portfolio further and streamlining my growth. I believe there's room for more opportunities, and I'm interested in hearing from experienced investors about the steps I should consider taking to reach my goals.

Specifically, I'd appreciate insights on the following:

1. 1. What strategies have worked best for you when expanding your real estate portfolio?
2. 2. How can I effectively manage multiple properties to ensure continued growth?
3. 3. Are there specific types of properties or markets that you recommend exploring for expansion?
4. 4. Any advice on financing options or leveraging equity for future acquisitions?

I value the experiences and knowledge of this community, and I'm open to any suggestions, lessons learned, or even pitfalls to avoid. Your insights will be invaluable as I continue to build my real estate empire.

[Scott Reigns]

Quote from @Robin Simon:

Hello - can definitely help you out with number 4 - DSCR Loans are really ideal for people in your situation - not quite just starting out (have a couple of properties under your belt), but ready to scale. Check out this 10-part series published here on BP on all you need to know about the financing options and how to scale with debt and best leveraged equity!

DSCR Loans: What Are They And How To Get The Best Terms

https://www.biggerpockets.com/...

DSCR Loans: How To Use Pro Strategies To Save More And Make More

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Multifamily DSCR Loans: A New High-Impact Loan Option For Real Estate Investors?

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12 Frequently Asked Questions (And Answers) About DSCR Loans

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8 More Commonly Asked Questions and Answers to DSCR Loans

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What Documents Do You Need for a DSCR Loan?

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BRRRR Loans: What Are the Options, and How Do DSCR Loans Stack Up?

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Short-Term Rental Loans: What Are the Options and How Do DSCR Loans Stack Up?

https://www.biggerpockets.com/blog/short-term-rental-loans-a...

DSCR Loans: Terms to Know When Working With These Popular Rental Loan

https://www.biggerpockets.com/blog/dscr-loans-terms-to-know

What’s Next For DSCR Loans? Updates For 2024 and Beyond

https://www.biggerpockets.com/blog/what-is-coming-in-2024-fo...

 thanks for sharing that robin!