Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

13
Posts
2
Votes
Jalen Leichman
2
Votes |
13
Posts

1st Rental Property Secured... How Do I Get My Next One?

Jalen Leichman
Posted

Hi all!

Closing on my first rental property (duplex) next week, and I'm already thinking about the next one. I used an FHA loan to get the property, so I'll have to occupy it for the first year, but I want to know what I need to do to prepare to get the next rental property.

I'm going the route of the BRRRR strategy, so I plan to do a few DIY repairs/remodeling to help increase the equity. Speaking of equity, the property appraised for $5K more than what I offered, so I'm starting off with $5K of equity to work with. 

I also don't want to have to save up a large down payment for the next rental property, so if anyone has any advice on low down payment opportunities, other than FHA, that would be helpful.

Thanks!

Loading replies...