How to scale your portfolio quickly

[Toby Auer]

Just looking for some advise from someone more experienced than myself. Thanks for you time and help in advance!

I bought my first home in 2018 for $252,000. I bought the house as a single family home, even though it was originally built as a 3 bed 1 bath and then the previous owner kept adding on making it a duplex. After putting in $75,000 into the home and also refinancing it as a duplex instead of SFR, it appraised for $447,000. Now I have been able to pull a lot of cash out from the refinance.

Nobody in my family has been in real estate but after my first house I see the amazing potential it has so that is the route I am going. Originally my goal was to keep buying single family homes but with all this cash from the first BRRRR, plus when I move out and into my property #2 using an FHA again, property #1 will cash flow about $1,200 a month.

My question is, with almost 100k in cash and $1,200 cash flow, how would you scale your portfolio as fast as possible? I feel very fortunate how my first deal ended up going and I feel like I’m in a good position to make a risky but smart move to scale up and meet my goal of $5,000 a month in cash flow so that I quit my job and do this full time.

Thanks again for your time.