I feel stuck. Any advice?

[Tony Sawah]

Hey everyone,

I was hoping someone can give me some insight on this... So I recently moved to San Antonio for my job last August and my lease expires at the end of July. I probably only have 5k in capital right now and will have almost 12-16k by July in a perfect scenario. There are duplexes in the area that are going for 180-200k that I can purchase via FHA.

I have one duplex in Chicago that is currently half rented. I'm waiting on the property management company to rent out the other unit so it can be fully cashflowing (two weeks now). But basically, I feel that it's going to be cutting it really close. I know I'll be able to afford the mortgage payments of the duplex because it'll be the same price and maybe cheaper than my current rent payment. 

Either way, I feel stuck. My lease ends at the end of July and I'm waiting for my first unit to get rented out by the property management company of my first property and I only got 5k in down payment money right now. I haven't been motivated in real estate but I recently got remotivated and ready to get back in the game. I feel once I get my duplex I'll have my confidence back and get ready to grow. Anyone ever been in this situation? What did you do?