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Updated about 10 years ago,
too soon to buy more investment properties?
I bought my first triplex in April last year. The last 9 months have been quite interesting - had to get the property deleaded, couple of break-ins, an eviction, and bunch of other new landlord stuff - it's been a good learning experience. In terms of returns, I didn't make a single dime in these 9 months (given all things above) but didn't loose any either.
Now, I am at a point when I need to decide if I should buy another property or not. Is it too soon for someone like me, who has a full time job, does not have much experience in landlording and real-estate in general, and the only place where buying makes sense is an hour away from where I live. If I decide to get another property, the 20% down payment will be funded by a HELOC against my primary residence, and rest 80% will be a new loan.
Looking forward to any advise I can get.
thanks. Vicky