buying second property

[Brandon Morgan]

Hi all, So I just bought my first investment property in PA in the Scranton area a few months ago! I just got my first renters and I am finally in full tilt! now that my first property is running smoothly I have been thinking of starting to look for my second one once my funds are in order. How long should I wait until I buy the second property? how long does it usually take? i used FHA for the first property so it may take me much longer to have enough money to buy the second since it wont be FHA but I don't want to wait several years. are there any other strategies to buy properties quicker or do I Simply just have to wait until I have enough cash? open to any suggestions or past experiences.

[Jonathan Greene]

So, you are house hacking in Scranton? That's a good start. Any "strategies" to invest quicker than having the money to invest aren't going to be ideal for you. You will get convinced you can do seller finance or sub to, but it's not practical unless you are going to spend all your time doing that. You have a property, that's awesome. What are you rushing for? If you don't have savings to get more property, the leverage would only increase and the risk so why risk something when you are creating a strong foundation?