How do I climb the mountain

[Javier Ontiveros II]

So, I finally made the decision to take control of my finances so I could eventually free myself from my 9-5 enslavement. My wife and I bought a triplex for our first home as an owner occupy. The rents are paying the mortgage and we live for free. How long do I need to wait before purchasing another investment property.

[Grant Shipman]

congrats on all that! Talk with your lender or multiple lenders. I think the lender will give you the green light as long as your debt to income ratio passes, you have the down payment and closing costs, and you have fulfilled your mortgage contract for living in your current place for the min amount of time (if you plan to owner occupy your next place as well). Also, if you do OO your next one, the mortgage contract will often say you have up to 60 days after closing to occupy the property. I hope that helps. I also highly encourage you to put the property in it's own LLC and have a well written lease. sorry for the unsolicited advice, I couldn't help it ;)