Is it too early to take action?

5 Replies

I’m in the process of saving money for a down payment for my first investment in which I will most likely be house hacking a duplex. I won’t be financially ready to make a move for at least 6 months. My question is, is there anything I can be lining up this early to prepare myself, or should I just stick with studying and learning as much as I can about real estate investing for now?

@Devon Martin Build up your credit score. Start networking and attend local events about real estate investing. Build relationships with Bankers, Brokers, Wholesalers, owners, ... etc.

@Devon Martin definitely reach out to a lender and work with them to do everything you need to be a solid case when you’re ready!

@Henri Meli Credit score is excellent, over 750. I've tried networking on BP, but I haven't yet found anybody near me. The nearest local event I've found is the next county over, approx. 1hr from my market. I'm unsure if their information would be relevant to me or if networking there would be worthwhile. Building relationships with locals is on the to-do list. I haven't started yet as I feel like I should be more prepared and knowledgable before I embarass myself in front of the professionals. 

@Jordan Moorhead Good idea! Do you have any suggestions for finding a lender? Should I just go to my personal bank and talk to them about it?

Thanks to both of you for the tips! 

A big thing can be trying to find a way to buy an off market property. This can really be a great benefit compared to buying off the MLS.

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