Newbie, Tyro, Novice...Yet Excited!
Hi All,
I have been a fan of the bigger pockets podcast for some time now. I have listened to it passively for too long and am taking the steps to get the ball rolling. I am a recent college graduate in the SD, Ca area looking to begin my real estate journey. I have enjoyed listening to Josh and Brandon and the information and experience they share as well as all the BP guests. I am excited to learn from you all and begin to create financial freedom.
My goal in real estate investing is to ultimately get 100 units with $200 cash flow. My short term goal is just to get started, make a deal, something! I have two questions to throw out there. I want to enter the buy and hold game ASAP, however I need more available liquid cash, or up front funding. I have been researching whole sale real estate and believe this may be a wise way to begin to acquire the cash that I need to begin the process. Any thoughts on this process?
Most of the properties here in Ca are very pricey for a first time buyer. The primary loan recommended to me are FHA given I am a first time buyer. My goal is to have no money down on my first property. Although FHA is 3.5%, in CA, this may still yield a hefty up front credit card balance for a first buy, given my market in Ca. This is why wholesaling looks appealing to begin with in order to acquire some of that initial cash. I've also been eye-balling the Az market as well give it's only 3 hours east. Please share thoughts, guidance, word-of-wisdom...