Trying do my first investment.

2 Replies

Good afternoon! From long time want to invest but I am always not brave enough. From couple weeks I am educating myself but still do not have confidence. 

I am from small city in Virginia where mainly live from tourist - we have hot Springs, and the oldest resort - Omni Homestead. Houses are here very expensive, historical, and more as a cottage style.

however close by there is house selling for 89.000$ which need major renovation. Simillar  square feet can sell here for even 300.000$. I am thinking more about short time rental- tourist are here every day. 

becosue l never done that before I am not sure if that is still a good deal. 

what kind of loan ? What strategy would you have for the beginner ? 

Where are you talking about?  Are these $89K homes a century old?  If so they are very expensive to renovate. Personally I won't buy them.  I don't want to flip them and don't want to own them as rentals.  If you can share some more details we can give you better suggestions.