I saved $210,000 and bought my first house 2.5 years ago...oops
Hello BP! My name is David Vitarelli. I live in Philadelphia, PA. and I am 32 years old. Everyone my whole life has told me to save save save....then buy real estate. So that is exactly what I did! I started my own building maintenance company and saved all of my money and when I was 29 I bought my first house for $210,000 (it is nice not having a mortgage : ) . It is a duplex and I rent out the 1st floor for $1,000 per month. Back then, I thought I was doing big business but since then I have learned that there is a lot more I could have done with $210K cash! Just a few months ago, I purchased my second rental for $152K (this time I got a mortgage!) but I am still able to get $500 in positive cash flow out of the property per month. Since my first purchase 2.5 years ago, I have known that I have a passion and interest for real estate investing and this was reaffirmed again with my second purchase just recently. The debacle I am finding myself in is....what is the next step? I want to unleash my inner real estate investing renegade but I do not know how to go about it. I am very handy person and am very willing to do many renovations personally. So naturally, I am drawn to the fix and flip investing strategy. I would appreciate any and all input on this topic. By the way, this is my first post on this forum! I am looking forward to starting a dialogue with many of you!