How much time do you guys allow before you invest in a second home.
Lets saying I buy a home in November, how long is the average before you reinvest and get a second single family rental?
My goal is to get to 50-70k within a year, so set the pace for me.
Update: My plan so far consists of this
-Located 30-35 homes that the area either seems distressed or that there is an indication of the seller being motivated
-Start making calls to get description of home/price
-Compare stats to other homes of similar size/features in the neighborhood
-Trim to 5-7
-Visit homes
-Get approved for loans
-Finance(my credit scores are high 790’s and low 800’s) - What’s the best way to get financing you think?
-Make offer on 3
-Rent
-Month or two later Reinvest and get second home, or should I try to acquire homes faster?
-jason