Strategies For Purchasing Additional Properties Quickly?

[Mike Becher]

I just purchased my first property in August of this year (2018), and I love it. Being new to this, what are some known strategies that people use to purchase a second, third, fourth property quickly [within a couple of years] opposed to waiting for that single property to bring in enough income to afford the next purchase? I still have cash in the bank, but not enough to dish out another $30K in more downpayments & closing costs without going house poor. At 40 years old, ideally my goal is have 10 properties (or 20 units) within 10 years.

[Mike Becher]

Currently property is a duplex. Someone else flipped it and I purchased after all renovations were made. Not owner occupied, purchased with a bank loan at 5.5%. Currently renting both units with a CoCROI of 13.2% [taking all expenses including vacancy, CapEx, and property management (even though I'm currently managing it) into account].

Currently living an extremely frugal lifestyle which is what enabled me to purchase this initial property. All the income through the duplex is untouched other than going toward expenses as it is solely being used as a retirement investment as will additional real estate purchases.