How long did it take to buy your 2nd property? How'd you fund it?

[Jasmine Benford]

Hi All! 

Just as the subject reads, I am inquiring about when and how you purchased your second property after closing on the first... and HOW. The purpose of this discussion to get insight/tips from your experiences. To give you a little details, I spent March-September, absorbing knowledge from BP and real estate books. Mid-November, I finally closed on my first rental unit (targeting college students) as it is 2 streets over from my alma mater and I am curious to know how I should get started on my second property. In the midst of this, I earned my real estate license and now am an active real estate agent which I am super excited about! More income, more properties! In addition to sharing how soon you bought your second property after your first, I am interested in knowing HOW you did just that, for example, funding, etc. I used a conventional loan because it worked better in my favor, so purchasing with a FHA loan would be my next step, I wouldn't mind living in the unit. 

Thank you! 

[Jordan Moorhead]

Took me less than a year from my first. 10 months actually.

I saved a bunch from househacking and owner financed a 6 plex with 15% down.