I feel like I'm at a standstill after my first deal.
Hello! I just did my first deal 4 months ago! I bought a duplex that I am currently house hacking. I live in the top unit with a roommate that I rent a room to. The bottom unit is a midterm rental that has been booked ever since I started it. Everything has been going well with the duplex. Clean tenants, low maintenance, and I even cash flow a little bit too! Because of the low maintenance I feel bored. I don't have enough money to purchase another deal right now, but I've been saving money from my full time job and the cashflow to buy my next deal hopefully next summer. I'm only 20 years old and I'm hungry to grow my portfolio! What can I do in the meantime to keep my real estate investing journey rolling?
Thanks,
Colin Frank
Most Popular Reply
My friend, you are on the right path, just stay the course. Don't believe they hype that you have to do five deals a month and post every thought you have on IG.
You have 8 more months until you can repeat that process. Wait the 8 months and do the EXACT same thing again. Then do it again in 12 months and another time 12 months later.
After 5 or so deals, you should have some equity and cash flow built up and that's when things get really fun. Good things come to those who wait...be patient and stay the course, you are doing exactly what you should be doing and you're way ahead of 99% of the people on these forums. Good for you.
- Corby Goade