New Investor Here - Any Advice?
Hello,
I've just recently started using BP and I thought I'd reach out incase anybody has some solid advise for a new investor.
I live in the Metro Detroit area and I sell real estate as my full time profession. Because of my profession, I know quite a bit about real estate in general. I've done a lot of learning/studying when it comes to the investing side of RE but I am having a hard time figuring out if I should wait to invest or find something now and/or possibly partner up with another investor.
I currently have $30,000 that I can use toward an investment property. The longer I wait the more money I'll have (obviously.) There is not a lot, in my opinion, that one can do with $30k. My original goal was to save $100k for an investment but it doesn't seem to me that you can do a whole lot with that either.
A traditional mortgage is not an option right now but might be after I pay all of my 2017 taxes in January. So, I've been looking for LC's but not much is available without needing more money than I have. I'm very excited about whats happening with the city of Detroit and the surrounding area and I'd really like to take action.
I should also add that I'm not a fan of single family homes but rather multifamily properties.
If you've got any solid advice, please feel free to share.
Thanks.