My family and I are ready for our first property to get our feet wet and begin our real estate experience. Where do I look to find a good starter property? Are there landlords that desire to downsize their property loads that are willing to help newbies like ourselves? I believe that a small beginning would help us learn the basics and we can grow from there. Any thoughts?
First off, welcome to BP!
Although there are a variety of different ways to source your first property, my best recommendation is to link up with a local, seasoned, investor. The hardest part about taking on your first project is not having the experience to know exactly what goes into a rehab concerning time and money and spending way too much of either to get there.
To better answer your question; try and link up with wholesalers in your area. This will allow you to gauge your market more appropriately and view the kinds of inventory they are pulling in on a regular basis. Don't feel eager to jump at everything you're sent and do your due diligence to decide which property is best suited for you! Good luck with your search !
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