New, My story and need advice.

[Chris Allen]

im knew although i have been browsing for some time, ill give you a short history of myself before i explain what i would like to do, Im currently 22 and at the age of 21 i had saved approx 15k for my first home, I had read every investing/mortage/real estate book i could find, before i really started looking, threw family i was introduced to a very respected and succesful real estate broker who has several offices, so i thought it was wierd that he was wasting his time with such (small fish) but he helped me find a forclosure,i bought a 1800sqft house 3 bed 3 bath etc for 112k, it was the ugliest house in a super nice neighborhood.(the house next to me sold for 275, even thow it is much larger and newer) but i am about half done renovating it and am looking to buy another when i sell this one, my question is i currently have 40k cash, should i save more maybe 60-90k before trying to tackle another, im looking to really get into this, and am hoping to find a higher end forclosure witch could yield more profit. what are your guys thoughts?