Updated over 12 years ago on . Most recent reply
first time RE investor journal
I am new to RE investing. I have wanted to do it for years and I was never able to, until I decided that I needed to start somewhere and just make it work because there is never a "perfect time".
About me: I have a good job and already have a primary residence. I am prequalified for a purchase and rehab loan through a local bank. I want to spend between 40 and 50k to purchase and rehab. In neighborhoods that usually run 80-90k. I want to buy and hold properties. I have read a few books spent hours on BP and listened to every podcast. I still have a lot to learn and I lo g road ahead but I am excited none the less.
To date: I have my financing in order and I have been working with a local realtor. I looked at my first house today. Great deal on paper. But I just don't think it matches my long term goals. So I think I will pass for now. I have out together a business plan. My long term goals as well as a mission statement that will keep me on track.
I hope to keep this thread updated as I continue my journey to my first rental......