Bought and successfully leased out my first property at 21. . . where do I go from here?

I have equity and personal capital. I am wondering what my next steps should be to continue building my portfolio.

Do I leverage against the existing rental, take the equity and throw it into another property?

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Yes, take from the home you own and purchase a new one and do that and then save, the goal should be to own the home outright so the money you get stays with you and your tenant pays the taxes on the home and you simultaneously. Then you buy more homes until you sell that first one and reap the benefits and continue until you buy and rent your first condo if that's the goal!!!

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Do you know how many boomers lost their real estate empires in 2008? Because they collateralized their properties against each other, and once some pain hit the whole house of cards fell. If you want to do it smart, you need individual non recourse loans that are not collateralized to any other property.

likesmart

Dec was a

I’d only own properties that you can afford to pay the monthly carrying costs on from your non-rental income. That way if you lose a tenant you aren’t scrambling to sell bc you can’t pay the costs.

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Hi - any good books recommendations for getting started on real estate investing?

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What percentage of your income do you save, invest and spend?

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How did you get started with your personal investing in stocks? I am 26, F, have some money in savings, 401k, stocks and just started my own business albeit small. I’m extremely interested in real estate investing have been reading and listening to podcasts. Any advice?

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Since it's EOY, it should be fun to compare notes on our our past investments, in terms of returns and strategies, to help us in the new year ahead.

So here I start with mine: From early last year around the start of the pandemic to today, I have grown my investment (cash + IRAs) from about $1M to about $3.4M today. My Fidelity chart below:

I wonder how many here are doing better, or similar, or worse than this. How's your overall investment doing, and what your chart looks like?

Post Photo
funnylikeupliftingsmart

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I went under contract last fall for a new build that will be done later this year. In the contract the seller/builder included a clause that gave them the ability to change the price without cause anytime before the house is complete. This past week they invoked that clause to increase the price by like 7%, supposedly due to material costs. I can either agree to the increase or they return my deposit. My question: is that type of clause even legal? (Cont)

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Looking to buy Rolex OP. Thoughts on new vs used? Is the additional ~2k worth it for new?

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Change my mind: A motion to “clarify” one of the court’s orders is actually just a cute, roundabout way of asking for reconsideration.

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Can someone please help me with the scope of Advisory role in Procurement Transformation team ?
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Thoughts on buying into Wells Fargo now, at their 52 week low basically.. Bank too big to fail of course and their imposed caps on grown expire in a year or 2 I believe with regards to how much $$$ they can lend out or take in...

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UPDATE (RE: SoCal Assistant Controller Interview)

So after two weeks of waiting (and giving up on the idea of getting the job really), the recruiter got back to me.

They said due to month-end and quarter-end close they were busy and couldn’t get back to me as quickly for a “good update”.

The recruiter said the CFO enjoyed our call, she, the CFO, will call me next week directly to “discuss some final things”.

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Hit me up if you want me to refer you for a pwc role 🙏🏻🙏🏻🙏🏻🙏🏻

likefunny

As far as a first meet up.
Best Day: Thursday's or Friday's?
Location: Uptown, Midtown, Downtown?
Time: 6:30, 7 or 7:30?
Spot: Preferences? Add yours below.
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I have a rental property and my tenant is asking me to change the fridge light burb. I live out of state and don’t have property manager locally. Is it bad if I ask them to change the fridge light burb themselves?

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likefunny
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Hi Fishes,

Please share Barclays designation hierarchy with salary bracket.

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likeupliftingfunny

I don't understand why people call themselves "rising x year at ABC". For us who are plain "X year associates", are we doomed to fall?

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Additional Posts in The Real Estate Bowl

My assumption is that one makes money in RE with leverage. So, would you never let your equity in any given property get above certain% (I.e re-leverage and invest elsewhere) or would one eventually want to own a property outright?

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