Rental Property Investor · Long Beach, CA · Member since 2018 · 48 posts · 11 votes
Hello all. I've posted once before when I created my account and I guess you can say I've been stuck in analysis paralysis and I do not have much money to start. I live in Long Beach, CA and the market here is way too expensive for me to get started. Between my brother and I, we have about $15,000 for a down payment to start investing in something but we do not know where to start. Is this enough to get started and if so, what areas do you recommend for out of state investing? I am assuming So Cal is out of the question, but if it is possible and I just don't know about it, please let me know. I'd appreciate any insight and ideas.
Lender · USA · Member since 2013 · 186 posts · 97 votes
7y
@Jessica Beard - There are so many courses on getting started in real estate for no money down (which is not exactly no money out of your pocket, because you will need money for marketing, but $15K is a great start). You will most likely discover that wholesaling will be your best avenue to start. Just check here in Bigger Pockets and Google search terms like "getting started in real estate investing" and "wholesale real estate courses".
Do not allow analysis paralysis to rob you of your success in real estate investing you can do it!
Real Estate Agent · Cupertino, CA · Member since 2016 · 4k+ posts · 1k+ votes
7y
In CA with a FHA mortgage 3.5% down I don't think you can find anything within your means. Suggest going with another person to go together or look in Midwest.