Real Estate Investments Beginners
What is the best option for real estate investing for a novice to get started?
I am just starting out in real estate investments, I was wondering what would be the best route for the beginner.
Buy the biggest multi family that you can afford that will cash flow. With out knowing what you have to start with ($ wise) it’s really hard to give advice.
The first thing I bought was a foreclosure house. I had little money to put down and got hard money to buy it. It was about $60k and I put about $10k into it and did a refi after it was fixed and rented. My refi was enough to pay off my hard money loan and my own investment… I only have about $800 month in property tax+ mortgage and rent it for $1200/month so that was a pretty good first go at it (didn’t sell it since it was my first, so I still get about $400/month from it).
Fast forward just a few years and I have several buildings that I’ve gotten via all sorts of interesting funding arrangements that have been good for me and my lenders.
Is Real Estate Investing for Beginners?