Advice on acquiring a second rental property. (Atlanta area)

[Adrian Wooten]

Hi BP,

Beginning real estate investor here looking for some advice from the forum. My first investment property is a multifamily that is undergoing renovation with the use of the FHA203k loan and should be done in about 45 more days (fingers crossed). What I wanted to ask is when should I start searching for my next property, I have about 50k that I can use as a DP for it.Should I see this first renovation through and get it rented first? I have a high income from my W2 and excellent credit to get another loan. I also thought of the idea to buy a condo for cash in the Lithonia or Union City areas and do some cosmetic upgrades and rent it as well. I welcome any advice you guys can provide.