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Updated over 8 years ago,
Too much, too soon? (Experienced advice requested)
Hello beautiful people of BP,
So I'm a pretty new investor, purchased 12 units two months ago. They have kept me pretty busy as I try and develop systems and meet people that can keep me from fixing all the little problems that pop up.
At the same time, I've actually already considered looking into getting more. It wouldn't be easy, even if I decide that's what I want, because it will require some sort of owner financing. Whether that be 100% or a more realistic 20% with the other 80% from the bank. For the sake of argument, let's assume I can swing that.
For me, taking another 12 would be scarier than taking 40 more units. Let me explain. On the one hand, 12 is something that I at least have some idea what I'm dealing with and it would be less debt over my head. But on the other hand, it presents twice the problems to deal with and it wouldn't be enough for me to quit my job.
If I picked up something like 40 units, I could quit my job and probably have more free time than I do now to focus on the real estate. The downside, is that 40+ units is different than 12, so I steepen my learning curve.
Any thoughts from the experienced out there? Is it something I should entertain over the next 6 months or just chill out for a year or so and gain experience?