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Updated 8 months ago on . Most recent reply

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Michelle Nevarez
  • Renter
  • Las Vegas, NV
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Blue Print to Wealth

Michelle Nevarez
  • Renter
  • Las Vegas, NV
Posted

Good morning,

Investing in real estate most recently has really caught my attention… as many others’ on here I am sure. After listening to a few BP podcasts, it really lit an interest.
Just a brief overview, I am currently living in Las Vegas. Financially, I am able to invest a few thousand, ultimately I would like to own a primary home though I am not too certain if it’d be in Las Vegas… prices are insane IMO. Though the rental we’re currently in I feel is a great opportunity as it’s in a great area and there may be the possibility to suggest a rent to own. 

Guidance is appreciated on where to begin, I am not opposed to looking out of state. My partner is from the Midwest, and we've briefly brought up the area. If it helps any, I have the VA loan as a benefit as well. Just curious to know what routes I could take! 🙂

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Just ignore anyone talking about Columbus. They clearly didn't even read what you wrote, it seems no one did. You said, you can invest a "few thousand". You need to be more specific about that because a few hundred thousand would work, but if you mean under 10k, you aren't close to doing anything in real estate. 15k is your minimum for reserves after purchasing so even if you buy something with 3.5 percent down, you need that downpayment plus 15k plus closing cost and any rehab.

It seems you just like what you listened to, but you should not invest at all for at least a year because you are too likely to be convinced something is a good deal before you know anything.

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