US Navy Submarine Veteran looking to expand his portfolio

[Eric Dutkiewicz]

Moved from CT to Boston.

I was a firefighter in CT and plan on being one up here, work for the state of MA in the meantime.
 

Bought a house less than a year ago in CT. I would've lost money on the deal so I started renting it out. Now that I'm doing that I find this is something I can do on the side and I might actually enjoy. My father was a contractor and I'm pretty handy so I can do most of the work on the renovations and upkeep on the property.

I don't have much in the way of liquid capital and don't want to pull against my 457 or other retirement if I dont have to.

I have heard something about waiting 2 years before investing in a 2nd property, something about the 1st property being turned into a cash flow in the banks eyes instead of just a mortgage?

I plan on being a buy and hold with renters (REI I think? I don't know too much of the lingo yet) Boston is too hot of a market for me to enter so I will probably stick with investing in CT.

I guess I'm just looking for the best approach to add to my portfolio without adding too much risk and if the 2 year thing is actually a thing.

Thank you for having me and I look forward to being apart of the bigger pockets community.