How soon can you buy another invesstment property

[Account Closed]

I bought my first real estate multi-family rental property. I want to know how soon I can leverage this property and use its equity to buy another multi-family. What are the strategies I can use to speed up this snow balling effect? 

[John Warren]

@Account Closed it all depends on how good of a deal your first property was. My first deal was a four unit in Lyons, IL which I purchased for $195,000. I was able to cash out refinance six months later at a new value of $260,000! This allowed me to cash out a large chunk of my investment, but I also bought a deal at 75% of market value!

If you buy a deal at or right under market value, you will not be able to (nor should you want to) leverage the investment further. Instead, you have to wait a few years to return your capital through the cash flow. 

Have you looked into using a HELOC on your personal residence or a 401k loan in order to invest further? These are common strategies to get more cash together to invest in real estate.