Yet another starting out thread

4 Replies

Recently on BP but have always been interested in real estate. There are so many avenues i.e. renos, buy and hold, rentals, wholesale. I'm not sure what of the best way to break into the industry. I'm currently in Calgary and working towards getting my real estate license. I like that aspect of the industry but I want something on top of that. So my question is whats the best way to get started in REI

22, little debt 2 student loans I'm paying off, no other debt 

I currently own a home in the British West Indies, in need of repair. I would have it repaired and turn it into a vacation home but I'm not sure if that would be profitable.

I currently manage a property being rented in NC

What is the best route for me, I know this is subjective but I don't really no where to start with no capital

@Ishmael Greenaway  seems like ur already started.   you already own one.   figure how to make some money on it? 

Everyone is SOO different it really depends on what you like to do and what are you goals. First thing off figure out your goals! Than figure out how you are willing to get started. We started off with a primary property, with 0 down VA loan. There is the FHA (3.5%) or 5% conventional that are low interest rates to get started as a landlord. Than you can rent rooms out. Or you can wholesale, bird dog, etc. There are tons of ways to get started just start digging. I talk about how we did it on podcast 103. Check out people's signatures, many of us including myself have blog/website where we talk about our methods and how we were successful.

Remember you first deal won't be as good as your second! dive get started and it doesn't come over night as much as we want it !

Originally posted by @Kirk R. :

@Ishmael Greenaway seems like ur already started.   you already own one.   figure how to make some money on it? 

 I know it just doesn't seem profitable and wont likely see a return on the labor 

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