Real Estate Investor · Springfield, MO · Member since 2017 · 1k+ posts · 2k+ votes
7y
That depends.
1) Where did you get the first million? Savings, inheritance, lucky break in the stock market, etc?
2) What is the anticipated cash flow of the existing units, if leveraged at 80% LTV?
3) Are you managing these yourself, and if yes, what is your level of experience managing rentals?
4) Does this $1 million represent your entire portfolio?
5) What kind of properties are these?
I ask these questions because buying $1 million in rental real estate could mean you own one medium size commercial property, a few residential units in California, or a small empire of mid-west Class C units. Management issues expand rapidly at the higher number of units. They are almost non-existent in commercial triple net leases. And since you just did this "recently", I don't know your level of experience or expectation well enough to say whether you should/should not buy more property.
I recommend first you give us more information.
Also, be sure to clearly define your goals. Why do you want more real estate when you just got into the game? Many are the newbie investors who say they want to go from 0 to 100 doors in a year, but WHY?