New to RE Investing, Any Advice is welcome

General Real Estate Investing
1

I’m currently working for a company specialized in kitchen/bathroom countertop and cabinet. With years of saving and some funds from family, I’d like to start investing in real estate, mainly a combination of rental property and flipping property, for short term and long term profits. I’m living in Stafford County Va and interested in buying a few (2-4) cash flow properties in Stafford area (including Fredericksburg and Spotsylvania) each property at around $100k-$150k. I expect to generate $1200-$1350/month rent on each property. I have $150k cash available for down payment and repair and plan to use conventional 30 years mortgage to finance remaining fund needed.

Besides the rental properties which I intend to hold on to for long term, I’m also interested in buying distressed property for rehab and flip. The location of the potential property does not really matter to me, although I prefer them to be close to where I live, since my job require extensive travel anyway. with that said, I do have the flexibility to visit potential property anytime of the day if necessary. I can utilize lot of resources I collect while doing my regular job on rehab of property especially I have handful of customers doing it right now. I have about $125k additional cash to do this apart from my rental property.

I’d like to get as much as of advices, from any aspects, at this point to have a solid start on this business adventure. I’m fully aware of all ricks involved in it and want to start early so can have a financially secured life down the road.

Thanks!

2

join a REI club,

find a mortgage broker that works with investors and handles hard money as well as conventional (and get referals from people in the REI club for them)

start with a small geographical are and know everything about it, schools, new busines moving into the area, etc

find the ‘sweet spot’ as far as price of housing to cash flow, in my area a house in the $110k will get you the best combination of cash flow and good tenants since you can get a good basic house in a nice neighborhood

read, read, read,

you have a fantastic base for your investing, you should do great,

3

If you look to the left you’ll see Investor Information, read everything you can under the Real Estate Articles. They will provide a wealth of information.

4

The best way to break into real estate for most every new investor is with either wholesaling or with lease options. Lease options are probably easier for most, and your money is safe and where it belongs. . .in your pocket.

5

Thanks for the advices, I’ll start with my due diligence.