Updated over 2 years ago on . Most recent reply
Hi, everyone! New Austin TX Investor/Realtor
I am a new Austin TX. Realtor, and I have been studying real estate investing for almost 5 years now but never took the leap to buy an investment property, I feel I've been stuck in analysis paralysis. Does anyone have any tips for someone looking to get started with little to no money saved up?
Most Popular Reply
Hey Thomas, if you have limited funds available, flipping or BRRRR'ing could be an excellent way to get started. With this strategy, you can purchase a property using hard money with only 10% down, and they will cover 100% of the renovation costs. If you're flipping the property, you can sell it for a profit and use the proceeds to continue investing. Alternatively, if you're pursuing a BRRRR deal, you can refinance the property at a higher appraised amount, allowing you to be in the deal for less than 20% down and potentially even receive cash back at closing. Hope this helps!