Just bought my first multifamily rental- how can I buy another?!
Hi guys,
I am new investor that has been following Bigger Pockets and everyone that is talking real estate investing for the past 2 years. With that said, just this past May 2022 I have finally closed on my first rental property. I am NYC native (Brooklyn.- to be exact) and Newark prices offered a better entry as a first time home buyer for a multi-family home. I have bought a 2 family home of which my husband and I are house-hacking in the ground level apartment while we plan to Airbnb the entire 1st and 2nd units totaling 6 bedrooms and 4 bathrooms. We plan to cash flow well -as we've ran the rental calculators close to a few hundred times (lol) and is getting ready to launch to host guests in our home after about 2 months of getting funding to furnish and prepare the home. Now that we are going to launch, looking at the up-and-coming developments happening in Newark (it has the same energy as Brooklyn over 10 years ago) with many real estate investment opportunities, I would like to get information on how to start with a second rental and work on the strategies on financing my 2nd property.
Any thoughts and suggestions. I would love to hear your feedback. Thanks in advance.