How to scale real estate portfolio

[Fred Watson]

As a semi newbie, I’m currently looking for advice on what would be my next best strategy to scale my real estate portfolio. This is my current situation:

I recently purchased a duplex for $117,000 and put in $30,000 as a down payment. The property cash flows about $250/mo, but the down payment took most of my money. I really want to continue my momentum and scale my number of units as quickly as possible, however I’m unsure how to do it at this point. I have about $10,000. What should I do to continue to scale and acquire more doors? Any help someone could give me would be very much appreciated!

[Frank Procopio]

@Fred Watson as a broker and manager I see this mistake made all the time. People have success out of the gate and then just want to keep buying. Some will buy for the sake of buying without adequate reserves. If it were that easy everyone would do it. Build up some reserves, take your time and search for that next deal. Be just as diligent as you were on the first!