buying property #2

[Daniel M.]

There are approximately 47 billion blogs, podcasts, YouTube videos, TikToks, Insta carousels, skywriting messages, etc., about buying your first property.

But when it comes to buying property #2?

Crickets.

Tumbleweeds.

A single sad violin.

So here I am.

I threw literally every penny I have—like, coins-in-the-couch-cushions levels—into the down payment for my first duplex. Great! I’m officially in the game!

...and now I’m also officially cash-flowing pennies a month broke.

I don’t have rich friends (or if I do, they’re doing a phenomenal job pretending they’re broke too)—no secret money fairy.

Sooooo… HOW DO I BUY THE SECOND PROPERTY?!

Do people magically regenerate cash?

If you’ve made the jump from property #1 to property #2 without outside help or trust funds, please drop your wisdom.

I’m out here grinding, managing tenants, fixing whatever they break, saving every scrap I can… but the numbers still feel like they’re mocking me.

How did you scale from one property to two? What clicked for you?

Creative financing? Partnerships? Seller financing? Appreciation + refi, (I’ve only had the property 18 months and appreciation in worth about $3)?

[Armando Carrera]

Hi Daniel,

My wife and I purchased our second LTR last year. We did 20% down. How? We saved all the money we could. Cut back on the trips, eating out, I even did Uber a few hours every weekend. Any repairs that didnt require a legit professional, we youtubed how to fix it. Learning new skills also helped us on the second home when doing upgrades/ repairs.

Another important note is that it took us 6 years before we got our second one. 

We could have gotten the second home much quicker but we didnt want to "touch" our first one. With the low interest rate, 15 year mortgage, and cash flowing nicely, was an easy pass for us on doing a Heloc or second on it. 

Good luck!