Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 7 years ago, 02/15/2018

User Stats

41
Posts
13
Votes
Amadeus Hladun
  • Investor
  • Lethbridge, Alberta
13
Votes |
41
Posts

What would you do in my situation??

Amadeus Hladun
  • Investor
  • Lethbridge, Alberta
Posted

So I am going to try my best to tell you all the variables in my situation to try to get the best game plan. 

1. Me and my wife (23 and 24) have 1 rental property that has 2 doors. The top makes $1300 and the bottom we currently live in but when we get into the next property it will rent for $850.

2. The mortgage for property 1 is $1434.00 a month. (I did end up jumping on a property based on emotion and excitement so I won't do that again... In hind sight I would have looked for a BRRRR property)

3. Me and my wife have $7500 in savings.

4. I have a personal line of $15000 untouched.

5. I have a credit score of 745.

6. My wife and I have made a budget we can live with where we can save $20000 a year.

7. I am interested in buy and hold, flipping, apartments, really anything but wholesaling.

8. We have no debt other than the mortgage of the suited property that we own.

9. Lastly... I am very impatient and am itching to get my next property and I don't want to make a bad financial decision based on my being impatient.

I know it's a lot but I just am looking around how best to use my resources to further my portfolio the quickest. 

Thanks! :)

Loading replies...