Looking for advice for first investment property
Hello,
I am so excited to be here! In 2023 I made the decision that I wanted to start investing in real estate. Since then, I have attended monthly real estate meetings in my area, networked a bit, read a ton of books, blogs, articles, podcasts and attended some investment seminars.
This year I want to take action, but am feeling a bit overwhelmed with where to start or how and when to fund my first property. I do have some debt I am paying off and not much saved for any kind of down payment.
I am interested in long term rentals, possibly flips but my ultimate goal is large, multi family complexes with 20+ doors in each building.
How did you go about finding your first property? Is there one strategy that you liked over the rest? I understand I need to start small, learn everything I can and build my portfolio up to multifamily but I’m feeling overwhelmed with how to get started. I am not sure if I should wait and save a traditional 20% down payment, wait until most of my debt is paid off or look into different funding options?
Any help or suggestions you can provide are greatly appreciated!
Thank you!