My wife and I are in the process of closing on our first duplex that we will be house hacking, while this closes I find myself constantly thinking about how to get our next deal. I hear of so many investors acquiring properties on a quick basis and I just want to see if
A. How to move the fastest towards a second deal?
B. Should I just slow down?
I would just like to know that I was making the best use of time so I don't end up thinking man I shouldn't have been so slow.
I think everyone is a little different and you need to go at your own pace. Considering you're just getting going, I would highly encourage you spending more time educating yourself than trying to buy the next deal. It's one thing to look back and say I wish I moved a little faster, and another thing to look back and say, I should have gone a little slower while losing everything you worked for.
Thanks @Colin Smith , I definitely do have that other side cautioning me too, but I listen to these podcasts and read blogs about people hitting 50 units in 5 years 95 units in 5 years and they didn't know jack lol. I'm reading and learning nonstop and I don't know how the heck they do it.
They all, like you, have an unfair advantage. Also keep in mind that they may be very successful now, but when the market tanks again, it could be another story for them had they not gone so quick. Go at your own pace and your own comfort level. Don't try to own every property in town because it just won't happen.