3 Rental Units...What Next? Should I be buying...?

2 Replies

Hey guys! Pretty new to Bigger Pockets and wanting to get more involved than just listening to the podcast albeit great!

I feel like I have hit a road block in my investing. I jumped in and bought a 30k SFR in 2012 with not knowing much but just tried it. It has cash flowed fairly nice around $250/mo with roughy 20k in equity now. Next in 2015 I bought a duplex for 93K that cash flows about the same per unit after a few fixes to the house with roughly 25-30k in equity.

I have about 20k sitting here (along with reserves) and I feel stuck. Not sure what the best next path is, having a hard time finding deals in this market and not sure how to go about even getting them at 20% lower than market (the first two feel like luck). Should I lower my cash flow expectations? I would like to get a multi and house hack as well, but they just don't come up much in Grand Rapids, MN. Should I be looking in other towns like Duluth, MN? Maybe I should wait for a market correction?

Just not sure where to turn next and need to figure it out! Would appreciate any advice to help me break through the next level in my mind and as an investor! Sometimes others can see more clearly from the outside!

Thanks all!

@Account Closed thanks for the advice! I think I just need to get out there and work harder to find the deals. I've just never done it before so not sure where to start. I'm an agent, and the MLS is void of deals which is where I used to find them. I need to start hitting up craigslist etc like you mentioned for sure.

I feel your pain...part of me wants to buy, the other part of me wants to save for the correction but I don't want to wait years.