I really want to start but am not sure how. I have a 790 credit score with little debt, and about 70,000 in equity any ideas
Find properties at 70% LTV or less. Use hard money or cash to purchase them and rehab them. Use no seasoning conventional financing to refinance them to 80%. Many people try to get them to 90% with cash-out but I don’t like to that option. The cost to go from 80% to 90% is heavy as well as you then have MI. The properties will have a hard time cash flowing unless you are buying in a very hot area where rents are at a premium. Stopping at 80% leaves you with plenty of equity if you need to sell the property quickly, it has no MI, and it will most likely cash flow for you. One other thing. In your previous postings you mentioned you have good credit and equity in your home. Do you have access to that equity? Do you have liquid assets? What about current employment? Do you have a heavy debt load? Good credit is only a small piece of the puzzle. Hope this helps.