How to use my capital

[Jack Parking]

Hi all. 

I am a new investor looking to get into the market. But I need some advice. 

I am in the Grand Rapids, MI area, which is an incredibly hot market right now. Properties are gone in a matter of hours. I am currently renting, but keep getting bid out by other buyers. Initially I was looking at MF units (duplex) but now I just want to get out of renting and start building equity, so I've been looking at SFH.

Here's my question:

I have 100k roughly to invest. My plan is to buy a property now and then use the equity in that property to buy another one in the fall (Which will hopefully be a duplex). What would be the best strategy to use this capital? i.e. put a 100k downpayment on a property, or save some of the capital for the second property? 

Any advice would be appreciated

[Joel K.]

@Jack Parking Your best chance at getting a deal in GR right now is to buy a SFH cash, put the money into it to get it fixed up and then refinancing. Shoot me a message and we can get on a call to discuss.