I am so anxious to get started. CurrenlY I own a small townhome for the last 3 years. Now I am interested in purchasing rental properties and eventually purchasing a larger home for myself. But I need guidance to get started
Start looking for properties and consult an investment consultant or bank consultant to see what you may qualify for. Multifamily properties are usually a safe best for financing especially if you can generate enough income to cover mortgage.
You should take an Investing course, Don’t mortgage yourself to the hilt! use other peoples money and credit.
Good luck!
Dan
it would help if you could provide some more background about yourself.
where are you located?
how old are you?
how much do know about real estate already?
do you have any money?
do you have good credit?
do you have a job? are the hours flexible?
whats your risk tolerance?
RE investing isn’t a one-size fits all thing!
I have a fulltime job, good credit, somewhat flexibility in my work schedule. Located on the East Coast. Have a low risk tolerane. Some money.
are you looking for a job in real estate like rehabbing/flipping or are you more of the investor mentality of buy and hold for a few years?
I want stability at first… Hold on to the home and generate some income. But evidentially I want to get into flipping properties
check out my post here.
http://www.reiclub.com/forums/index.php?board=29;action=display;threadid=4812
basically you could do what i’m doing. if you want to start with an area close to home, you need to analyze the market cycle. once you determine an area that looks like its about to appreciate and has actually appreciated for a year after being flat for a few years, you need to find people you can trust. [other investors or agents] try and get the builder to get you a discount for buying in bulk or for bringing in investors in bulk and try to get 100% financing.[you need 6 months reserves even for this. thats about 10k on a 200k house].