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Updated over 7 years ago on . Most recent reply

User Stats

63
Posts
26
Votes
Ricardo Cristobal
  • Rental Property Investor
  • Apple Valley, CA
26
Votes |
63
Posts

I feel stuck in my position, fairly new to REI

Ricardo Cristobal
  • Rental Property Investor
  • Apple Valley, CA
Posted

Hello my fellow BP members,

So to keep if short and simple, I bought a single family home a couple of months ago and currently house hacking, which allows me to pay $0 out of my pocket. The reason I feel stuck in my position is that I cannot buy another property until I live in my primary residence for at least 12 months. My ultimate goal is to buy and hold possibly a duplex/triplex/fourplex and house hack so that I don't need to put down a 20% down payment. I see other purchase multiple properties in their first year of REI. Am I doing something wrong or should I just need to be patient and wait until my 12 months is up for my primary residence? Thank you guys for your time.

-Rick

Most Popular Reply

User Stats

19
Posts
7
Votes
Aaron Curley
  • Wilmington, DE
7
Votes |
19
Posts
Aaron Curley
  • Wilmington, DE
Replied

@Ricardo Cristobal  I could not have said it better than @Bram Spiero.  Don't work other peoples plans or lives.  Work your plan.  If you want to speed up your plan then you will probably need to open up to other strategies to purchase property faster.  check out the BP podcasts and the new book by @Anson Young.  It might give you some new ideas to find and fund deals faster.

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