Decision making, next property

[Sam Arnold]

How can I determine if I'm ready to purchase my next duplex, given that I'm currently house hacking a duplex? The new property is turnkey ready in Laurens, SC, with an asking price of $135,000 and only minor upgrades needed. I also have roughly $30,000 in equity. What other factors should I evaluate to ensure I'm financially and logistically prepared for this next investment?

[Nfrtari Ramesra]

Great question, Sam! A few quick things to consider:

• Do you have reserves for closing costs, repairs, and emergencies?
• Will the rent cover your mortgage, taxes, and other expenses?
• Are you confident in the local rental demand?
• Minor upgrades can add up—make sure the rehab budget is realistic.

Sounds like you’re in a good spot—just double-check the numbers.