I AM NEW TO INVESTING AND PLAN ON INVESTING IN HUD HOMES TOWARDS THE BEGINNING OF MY CAREER BECAUSE MONEY IS KINDA TIGHT RIGHT NOW AND I THINK HUD PROPERTIES WOULD BE A GREAT START FOR ME SINCE THEY ARE CHEAP TO BUY, CHEAP MONTHLY PAYMENTS AND I CAN FLIP IT ONCE I DO MY FIX UP’S. AS I MENTIONED BEFORE I AM NEW TO BUYING PROPERTIES. WHICH EVER PROPERTY I DECIDE TO PURCHASE IT WILL BE MY FIRST (INVESTMENT & PERSONAL) PROPERTY. I AM CURRENTLY LIVING WITH MY IN-LAWS.
MY PLANS SO FAR ARE TO PURCHASE A PROPERTY, DO MY LITTLE REHABBING TO IT AND FLIP IT. I AM PLANNING ON DOING ALL OF THIS WHILE STILL LIVING WITH MY IN-LAWS. OFCOURSE PAY MY LOAN BACK THEN THE PROFIT THAT I MAKE OFF THE PROPERTY I WILL HOLD ON TO LEAVING ME WITH A GOOD CHUNK OF CASH IN MY SAVINGS. THE NEXT PROPERTY THAT I PURCHASE WILL BE MY OWN PERSONAL FAMILY HOME. EVERY PROPERTY AFTER THAT WILL BE AN INVESTMENT PROPERTY AND IF I HAVE ANY FINANCIAL ISSUES FOR ANY OF THEM IS WHEN I WILL JUMP INTO MY SAVINGS FOR SOME OF THE PROFIT THAT I MADE ON MY FIRST PROPERTY. I’M JUST NOT SURE IF I SHOULD START OUT THIS WAY OR IF IF SHOULD TRY SOMETHING ELSE. I NEED SOME OPINIONS OR ADVICE, CAN ANYBODY HELP THIS ROOKIE INVESTOR? ANYTHING WILL HELP, THANKS AND GOD BLESS!