Just starting out - should i invest $40k now or ...

[Jason Aurelius Sawicki]

Hello BP Community!

I'm just starting out and I'm looking for some opinions from experienced investors -

Q: I have $40k to invest (can pull out as a 401k loan), should I invest this now or wait a year when I'll have a total of $80k to invest with? 

Next June I will be selling my first rental investment, which should clear $40k or so after everything. Just for background, this home was one we lived in for a year (FHA loan) before moving across the country for work. It was a decent deal based on equity but does not cash flow very well and now that I'm learning more I know I can use the money better.

My goals are to purchase single family / multi-family buy and hold real estate in the mid-west and other good markets for the long term.

I appreciate any insight, thanks!

Jason