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Denkaevon Roy
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Looking for advice on getting into real estate

Denkaevon Roy
Posted Dec 29 2023, 20:18

Im new to everything. I want to know the first steps to flipping and renting my first properties. 

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Jason Wray
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Jason Wray
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Replied Dec 29 2023, 21:27

First steps to Flipping or Buying a rental is fairly easy you just reach out to a Bank/Lender and get a Pre-approval for a REI purchase. When you talk to a banker/loan officer you want to ensure they know that you want to build a real estate portfolio. Biggest topic of conversation should be geared towards the property your buying and the future equity it can yield. Any time you buy a rental you want to look beyond the purchase price and into the ARV potentials.

There are specific programs for flipping and specific programs for every day investment home purchases. If you do not already own a home its better to buy as a primary to put less down and refinance in 6-12 months to transition it into a rental.

In most cases it best to have an initial conversation with a Banker/Loan Officer so that either option can be mapped out and they can walk you through the easiest path.

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Bob Stevens
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Bob Stevens
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Replied Dec 30 2023, 05:08
Quote from @Denkaevon Roy:

Im new to everything. I want to know the first steps to flipping and renting my first properties. 


 Get to a local meeting,

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Patrick Roberts
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  • Charleston, SC
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Patrick Roberts
  • Lender
  • Charleston, SC
Replied Jan 4 2024, 08:10

Hi Denkaevon, 

As Bob said, a local REI meetup would be an excellent place to start. Red Stick REIA apparently hosts an REI meetup on the first Wednesday of every month. I haven't been to this group's meetup yet, but I will be attending in February barring some crazy unforeseen event. There's also two Facebook groups for BR - Red Stick Real Estate Investors Group and Real Estate Investors Baton Rouge LA. The REIA meetup event is listed publicly on Meetup and shows as being free to attend.

https://www.meetup.com/red-stick-reia/

Let me know if I can help.