Am I moving too fast?
I have been renting out my home to extended family for the past 2 years making ALL the mistakes 1st time landlords usually make.
I've kicked them out and am in the process of cleaning up the damage they've caused and renting it out to someone new.
I've been thinking of buying more rental properties seeing as how I feel I can handle it.
I recently found a deal on craigslist in my area...if I had to give it a grade...I'd give it a D. I personally wouldn't live there but I dont like row homes and it's on a 1 way street...plus the schools aren't great and it has a bad reputation.
However it's a prime area for Section 8. Which is why I'm interested.
My (partner) however thinks I should just focus on my property and "wait" before doing anymore deals.
I understand what hes saying but at the same time...its a FSBO so I could probably get SELLER FINANCING. Which would make the deal hard to just walk away from.
I can afford to buy the property but now arent sure if I should or not. I wouldn't want this to cause a problem between us.
Am I moving too fast? Should I focus on just my property? What would you do?
I may get a look at the property today and that could help with my decision...just want other opinions from seasoned and new investors.