New investor dilemma, When to buy another property?
Hello BP community, very excited that I've found this site, there is so much good information on here.
So here's the question: I brought a foreclosure home last September with a construction loan with the hopes of flipping it, but I loved the property so much that I ended keeping it for myself. I currently am getting the loan turned into a FHA loan. I live and rent the house so the monthly mortgage is paid for; I owe about 87k or so left on the loan. Would it be wise to invest in another foreclosure property that I will flip and resell or rent out? The next home will only be about 40k, so it won't be too expensive. I also have a full time job with a steady income, so I'm not solely relying on real estate. Any help is greatly appreciated!!