I am very very new to this and I am looking for any information to help me along the way. I just came across this site and so glad I did. I have done allot a research in real estate education and have a little bit of knowledge in many different areas. Now it seems all the information is running together and I don't know where to begin.
I would like to start out with a small multifamily property 3-4 units, buy and hold. I have a good credit score and have a small amount of money saved ( not much). I am confused on what is the best route to take for financing.
Any insight would be greatly appreciated.
Hey @Damica H.
My first bit of advice is to get to know your chosen markets and get to know your goals, really well. Once you define those other things make sense, but if you approach everything not knowing your end goal it's difficult to zero in on what will help get you there and what you want. Write them all down, post them, talk about them.
Second bit, network network network. Listen to BP podcasts, follow posts, comment, join your local GAREIA group and start meeting people who do what you want to do. Also, networking is just plain fun :)
Good luck on your endeavors!!
Welcome. Time to build the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.
Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.
Consider checking out HUD homes for small multi's owner occupied gets first crack.
You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.
Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.