Too Much Real Estate Too Fast?

[Tyler Emerson]

Is there such a thing as too much real estate too fast in the beginning, if the deals make sense?

So, like many other real estate enthusiasts I started out with good ol’ life changing Rich Dad Poor Dad. Fast forward six months, hours of podcasts, books upon books read, teams created, I’m in a situation and would like to reach out for a little advice!

I’m fixing to close on a single family home in my current town of Clarksville, AR. Purchase price of $51,000 through a conventional loan 20% down. Estimated rehab cost of about $5K.

Additionally, I’d like to purchase a full acre of land in town with future plans of building a duplex onsite as it is already zoned for multi-family. We are working on an agreed price, but listing price was $7,500.

AND, recently a single family foreclosure for $40,000 has come up: 3 bed 2.5 bath, just under 2,000 square feet, multi-level home with a basement and four car carport. There will be rehab that has to be done, nothing extremely major from initial looks. I’d really like to go after this property as well.

I’m still learning, and was curious for input on whether I should maybe stick to the one house I’m closing on and the land? Or go for it all. I’ve got about $22,000 saved up currently and saving like crazy as of late!

Thanks for the input!