Fresh Investor, First Deal Done...Whats Next?!

[Jacob Wazydrag]

Hello, Bigger Pockets Community!

My Name is Jacob, and I am 26 years old living in Chicago IL, (Portage Park Area) and one of those "Get's up at 4:00 am and Just Never Quits" kind of guy. Haha. and I did my first real-estate deal this past 6 months. The purpose of me posting is to ask advice for how to keep the ball rolling.

To give you all a little information about me, I am currently a carpenter (framing single-family homes), working on my bachelor's in business management, making 32,000 a year. My first real estate deal was a 3 flat or 3 unit apartment building in Jefferson Park. My long term goal is to have my rentals to cover my living expenses and provide a retirement for me and my family.  My short term goal is to double my units every year in the next five years.

I used what money I had to fund this deal which I did with my brother and mom, I am in need some advice on what direction to go in to acquire the next rental. Should I BRRR?, Build a rental from the ground up?, Where do I get the financing? I am very curious to hear what advice is out there in this community of people that are into real estate as much as I am!

Respectfully Always,

Jacob Wazydrag

[Michael Facchini]

It's tough to get another deal going without the down payment capital. Even hard money/bridge financing will want some skin in the game. But like you said, BRRR could be an option. Do you owner occupy that 3unit? What kind of equity exists?