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Updated over 7 years ago,

User Stats

9
Posts
2
Votes
Mike Staehle
  • Oakdale, CT
2
Votes |
9
Posts

Did I already mess up?

Mike Staehle
  • Oakdale, CT
Posted

So I have been following biggerpockets (forum,podcast,youtube, everything) for about two years now and I've always had the goal in mind to start investing in real estate. I bought a single family house as a permanent residence in CT not even thinking about the long term goal but to solve a short term problem (living with my parents at age 24 and needed out). I bought this house with a USDA loan which is 0% down, it was a HUD home that I paid 142k for and it appraised at 162k. I've put about 10k or so into it so far and i have a roommate moving in with me in november who will be renting the downstairs (bedroom, den, bathroom) for $750 a month. Thinking about the long term goal I really would like to buy a rental property whether it be a duplex, tri, quad. I'm not up to par 100% with everything I've learned because i haven't actually put it to use yet but what would be my best way to buy another property? I don't have a ton in savings anymore from buying my first house because of all the inspections and work i put into it. Any help is greatly appreciated!

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