Just got pre - approved, so what's next?

3 Replies

I've been pre-approved for a loan of 150,000. I want to rent out my homes in the future. But for my very first house, I'm thinking of flipping. Flipping until I can make enough money to pay cash for my first rental property. I'm thinking this might be a good idea. Is this a good strategy for the first step?

Hi @Munira Hassan

Have you done any research on real estate investing? I highly suggest you read and learn before you jump into this business.  Once you have read some books and/or blogs on this site, from there you will have a better idea of what type of investments that you want to get into.  There are tons of ways to invest in real estate and it's my advice that you pick one type and become an expert at it. 

Hi @Nicole B.

Thank you for the great advice. I especially like the part on picking one way of investing in real estate and becoming an expert at it. I am learning everything I can right now and taking advantage of the bigger pockets website. There's so much information but for now Reading the books and listening to the podcasts is a good start I think.