Newbie in the Boston area
Hi! My name is Sarah, I'm currently not an investor, however I have big plans for my future. I have been planning on getting my real estate license in the fall, and I have been lurking on BP for a while now. My dream is to do fix and flips and own a couple multi families outright. My husband and I want to team up and do this together. Here's our deal: We are currently trying to sell our home that we have lived in for the past 6 years. It has been on the market for 5 weeks, we did accept an offer at one point, but they rescinded they're offer due to the home inspection. We bought the house as a short sale in 2009, for $230,000. We did the whole house over room by room while living in it and starting a family. We have it listed for $319,000, but we are most likely going to be dropping that price to $310,000 this week due to lack of activity lately. We figure we will have around $50,000 in pocket after we sell and pay off debts. We are trying to figure out what to do to get started in investing. $50,000 is what we will have, but we also need a place to live. My idea is to rent, and use the $50,000 to try to get an investment property in the works. I would love some input/advice from anyone who has done this before. Thanks! Sarah and Dave