Updated over 9 years ago on . Most recent reply
Just starting the new chapter in my Life Real Estate Investing
Hello everyone,
* First Post* I have wanted to invest in real estate for a long time but never new where to start with no money. At the time 2008ish I was in my second year in college, and working full time (40+ hrs) however I was seeing so many deals I just never pulled the trigger. Also I did not know about BP yet.
Fast forward to 2013 ( yes I missed out on a lot of deals and growth) I bought my home, which was a foreclosure. After putting in about $15k in to the house to "fix it up" ( mainly finishing floors and coating the horse hair plaster) my equity grew but of $40K. That is really the only real estate investing I have under my belt.
Earlier in 2016 my friend approached me and told me about BP, since then I have been on daily. I listen to a podcast a day ( now on 63) on my way into work every morning. With doing this I have caught my self being " attracted to shiny things" and so I research topics and starting the BP beginners guides then, OOO something shiny! but I have narrowed it down that I was to be a buy and hold investor. The problem is I don't have the money needed to put a down payment on a investment property ( I do not want to use my own homes equitably due to the risk). However I have reached out to family and found that I have someone willing to fund and be the contractor for a Flip... yes a flip ( not in my business plan). So I have adjusted my initial angle and I am going to start my building of capital by partnering up with this family member. I am having a little bit of trouble shifting gears but I am working on is slowly.
I am in Rhode island, I have been looking for deals on the MLS ( slim pickings as it seems ALOT of people in RI are looking for deals there) So I started a secondary search for wholesalers but The three I have found ( Craigslist) seem to be evaluating house differently then me because when I run the 75% test its off.. ( different comps? Idk?) but my hunt continues for my first Flip Property.
I am excited to start Bigger pockets and investing!
AJ Brockway