Very new, many questions.

I am interested in doing this: I want to buy properties that need cosmetic work , I am not opposed to some framing etc, but might stay away from properties with major foundation, electrical or plumbing needs. I want to turn around and sell for a profit, of course.I would probably do the rehab along with my more capable husband.

Do I need to talk to lenders about financing possibilities? I do not have any money to put down on this and might even need a loan to do the rehab. Should I save money for down payment and expenses? Would a lending company allow me to have two home loans? Our current house (that we want to keep) and another? We have pretty good credit, but quite a bit of debt. I will read, but I wonder if I should pursue the idea or scrap it until we pay down our debt? Thanks for any help.


Hello there fellow newbie.

I’m also new to this as well, but I would definitely recommend going to your local area Real Estate investment Club. Use this sight to find it, and as well as Read the free materials first.

The connections with the locals is always the best. You get to see people up close and personal. Mostly for myself it really did a lot to see and talk to people that have already done it. Most of them will be a lot more helpful than you think. It’s like all things in life. 1/3 Will love you, 1/3 will hate you and 1/3 don’t care.

Meet the 1/3 that will love you, speak to the 1/3 that don’t care, and forget the 1/3 that hate you.


Thanks for the advice!