How to accelerate growth?

[Sahil Relan]

Hi Team,

Some background: This year bought my first investment property(duplex) in Chicago suburbs. It all went well, its rented and cash-flowing now. The numbers are good and no concerns so far. Bought second property(primary residence 203k duplex chicago): the renovations are in progress. Also, have a 6fig job and good credit.

My question is how to accelerate the growth. I will re-fi my investment home and expect to get back about 25k. Can have about 10-15k more of my own. How to get a bigger property? Should I do a fixer-upper 6-unit with hard money and try to BRRR it? I saw some private lenders offering 90% funding of purchase and 100% rehab costs. Is such a deal leveraging too much?

Appreciate your answers

Thanks

Santi

[John Warren]

@Sahil Relan congrats on your success thus far. I would look at your why very carefully. You have a solid career and good credit, which means you have an excellent platform to invest. Why do you need another deal so quickly? How many deals do you need to reach your goal? Is this about job replacement or is this long term wealth creation? 

The buying real estate part is actually easier than most people realize. Making sure your real estate is helping you accomplish your long term goals is the real test.