Am I moving too fast?

[Joseph Delarosa]

So am I moving too fast, or is there such thing? I've been sitting on the back burner for about 3 years waiting for my opportunity and studying. I finally pulled the trigger on a 4 plex and today just signed a purchase a on a SFH. IMHO i got a killer deal. It's been less than 3 weeks and i have 5 doors. Tomorrow I am scheduled to tour a 68 unit apartment complex. It seems as though it's a target rich environment. I do my DD on every property I look at, but I don't want to get alligator eyes and bite off more than I can chew. Once I get the numbers on this apartment complex I'm probably going to be humbled once I ask the BP community what they think, but I look forward to it because that is when I learn the most. My question How fast have some of ya'll moved from where you started to where you are now, and how did you do it?

[Andrew Johnson]

@Joseph Delarosa In some regards I think you can go as fast as your FUNDING allows. Speaking of which, do your lenders know about your concurrent escrows? I'm not sure if you've closed on the 4-plex before putting the offer in on the SFR. If you have concurrent escrows and don't disclose things could get a little dicey. But if you're touring a 68 unit apartment complex tomorrow then funding may be the least of your concerns. Just make sure you have reserves, with some extra reserves, and a side of reserves. Get too leveraged and you don't get up losing money, you end up in bankruptcy. Reserves aren't there for what you expect, they're there for what you don't expect and can't plan for...