35K and ready to jump in!
Hey BP community, I need some advise!
I moved home two years ago and was able to save 35K cash and am feeling like I'm approaching the point of investing in my first multi. I want to buy and hold for long term wealth building. I have been working with a broker who is an investor himself and is more like a mentor to me, teaching me things to look out for and property analysis. I'm in a super hot market in Portland ME and as we fast approach winter I'm looking for some advise. Should I pack it in for the winter and continue burying paychecks or should I look to invest now. I realize action is key in this game but have been looking through MLS on a FHA loan and the numbers are just ok.
Any and all ideas/advise would be great as I continue to formulate my plan for my first transaction.
Any locals to the Southern Maine area would be very helpful too!!
Thanks so much guys! Hearing all your stories and advise is helping to keep me motivated to get out of my parents basement!
-NB
Most Popular Reply
winters the best time, the people selling usually are selling because they have to. This COULD give you a better chance of making a deal... because it'll limit their ability to attract buyers. You have the time, wait for the deal.