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Updated about 11 years ago on . Most recent reply

Going for rental #2 ... Is it too soon?
Hello,
I purchased a duplex last April with 20% down. I am now ready to purchase another property but ...
I can't help but to ask myself: "Is it too soon"?
After all, I don't really know what I'm doing. I didn't go to school for this, my parents don't own rentals, none of my friends own rentals.
All I've really done was save a (considerable) chuck of change, buy a house and find some people to rent it to. Maybe I just got lucky. Maybe that luck is running out. Maybe I am gleefully walking toward my own destruction, oblivious to the myriad of dangers lurking in the shadows of real estate investing!
So I ask, is it too soon?
What is your advice to the beginner investor? How fast is too fast?
Most Popular Reply

Thank you for the great responses.
The biggest thing I've learned from my first property is that I could have gotten into it for half the money. And that your realtor is not your best friend.
To answer your question Jay C..
I can afford the property I currently own without it being rented, however I cannot not say the same for the second one. If both went unrented I would be underwater. Does that mean I will be over leveraged by purchasing one more property?