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Updated over 4 years ago,

User Stats

23
Posts
12
Votes
Landrin Lewien
  • Rental Property Investor
  • La Crosse, WI
12
Votes |
23
Posts

Am I moving too fast?

Landrin Lewien
  • Rental Property Investor
  • La Crosse, WI
Posted

Hello everyone, I've had a VERY busy year for a 22 Y/o I bought my first rental property in lacrosse Wisconsin almost a year ago, June 2019. I bought my second in January 2020. last night (May 5) I put an offer in on my first duplex and it got accepted. In total on my first 2 properties I've invested about $50k cash between the down payments and repairs. This deal came along in a duplex that I couldn't pass up. The downside is that I offered 139k, and as far as cash I only have about 15k for a downpayment, so I'll have to buy the duplex on an OO loan. Should I have toned it back and waited until I had more cash to be in the market for another rental? I kind-of feel like I'm moving too fast. I don't want to waste my OO loan on this duplex. Any thoughts?

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