Starting Out in High Priced Markets
Good morning!
My name is Clay and I'm (relatively) new to BP. This is my first post and I just wanted to say that I am super excited to learn as much as I can-I'm even taking a couple real estate courses at a local community college!
Anyways, I have been lurking for a couple days, have listened to BP's podcast for a few months and have read a few books. Nothing, however, has really popped out and answered this question: how does one start off in relatively high priced markets if one doesn't have the capital to do it? I live in Sacramento, California and "cheap" houses are in the $100k range. Anything middle class seems to be $250k or above. I mean, I know the answer is low or no money down, but I'm not entirely sure what the process of that is nor am I sure the reserve I should have on hand for repairs/carrying costs, etc. I'm sure there's a ton of information out there, could someone point me in the right direction or speak about their experiences?
Thanks so much for taking the time to respond!