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Updated 6 months ago on . Most recent reply
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One investment property, looking to expand
I am 25 y/o, I have a job where depending on overtime, I make around $140,000. I bought a 4 plex a year ago and I live in one unit while saving for another. I put 20% of pay into 401k and have a couple payments totaling around $1000. I will have $30,000 saved up by the end of the year. I’m wondering what the next steps should be going forward to gain another property and expand my portfolio. Any suggestions real-estate or not are greatly appreciated
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- Real Estate Consultant
- Mendham, NJ
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This is a great post because it's an example of a young investor doing all of the right things and not trying to go too quickly. If you want to stay, that's smart also, but you will need that 20%. I would actually think smaller, not larger. Since you were smart to house hack a 4, I would see what you can get for a 2 in good shape, not a BRRRR or rehab (too much work when you are new).
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