Wait and go bigger? or buy duplex now?

[Luana Mazon]

Hello real estate sharks,

My fiance and I live in Lowell, Massachusetts and bought a duplex in April of last year. This house makes $1700 in rent. Its a flip house with all granite counter tops, stainless steel, open concept floor etc. I know once we move out of this duplex we will make +/- $1000 a month in cash flow when renting our unit.  We are in doubt whether to buy another duplex in the area or to save up more money to buy 5+ units? If we choose that route it will definitely take more time b/c we have to save up.... I'm a little stuck. HELP!!!! :)

[Chris Sellers]

Luana,

Such a smart move, buying a duplex and living in half!  Also great plan to save for the next property.  If I were you, I'd save for the next duplex, keep saving and start shopping for deals.  Pull the trigger on another duplex if you find one right away.   If more time goes by and you save more, buy a triplex, fourplex or 5 unit.  Don't keep waiting and saving if a good deal presents itself and you have the money.

Good Luck!

Chris