My first deal - The learning experiene

[Melchor Domantay]

Hello BP,

I'm Melchor Domantay and I'm a newbie investor from Berwyn IL.

I joined BP on September a day after I bought my first property, a two flat which I'm "house hacking. The building is newly rehab and it's my tenants on the 2nd floor and my buddy who's lodging in my unit is basically paying for the mortgage, property tax and PMI. However, I was originally looking for a 3 flat and I had the budget for it. However my realtor told me that I can't buy a 3 flat for FHA.

I believe her then but now I know that's not true, I could have been cash flowing :(. Anyways, I just chalk that up as part of learning and finding a good realtor for your team! Besides, this is a tweetable topic for you @Brandon Turner " You're smarter today than yesterday".

Moving forward more than 2 months, after learning the potential in investing real estate, I decided that I want to buy my next property. I don't have a lot of capital and there are still a lot to learn. I would like to do another buy and hold but my GF don't want to live in a 2 flat. Flipping is probably not a good idea because I have a full time job. 

Does anyone have a suggestion how and what kind of property I should acquire next to build my portfolio?

Thank you in advance!!