What options do I have for buying a property?

3 Replies

Hello everyone,

I want to get started in REI, but my debt to income is too high. I have excellent credit and access to my VA loan, so I don't have to put any money down. Does anyone have advice on what I can do to get started?

Here are just a few choices you have for financing or controlling property.

Joint Venture

Hard Money

Private lenders

VA loan

Option

Wholesale

Seller Carry Back 

Most likely your greatest challenge will be how to find a profitable deal.

Many ideas are well covered on Bigger Pockets:

Here are just a few to get started:

1) Listed property

2) Craigslist

3) Buy from established wholesalers

4) Network at investor club meetings

5) Direct mail to specific sellers/situations

What do you want to do?  Flip, or hold?

David I'am in the same boat as you, Im also a veteren and have looked into a VA loan myself. If you qualify its a great way to start out in REI. The thing is with a VA loan is that you have to live in the dwelling you purchase for atleast two years. What other investors on here have suggested to me is to buy a duplex and rent out one side. Your tenants will cover your mortgage and you should still be able to clear a profit.

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