Purchased my first property!

[Brandon Ribeiro]

I closed on my first property a little over a month ago. I put in 5 offers on other homes and lost every single one of them, even at full asking with no assist. The property i purchased is not the ideal situation being that it was already rehabbed, however it does need some exterior work. It is my primary residence, however i was considering house hacking it.

Does anyone have any tips as to how i can use this house as a stepping stone to buying my next property? It appraised for $5,000 over what i paid for it, and i do have some things i will be doing on the exterior of the home that i believe will add value as well.

I just want to know if there is any way to use this property to get my next, which i would like to be a rental- or if im better off just saving my money and doing it all over again.

at the moment i am a little low on funds considering closing costs consumed most of what i had saved up.

Thank you in advanced!