I live in Nashville and work for a short term rental management company. I am 25 and I got into this industry to begin to learn about real estate within a niche. I have been reading about Real Estate whether it was the millionaire agent, Mark Ferguson books, invest four more, rich dad poor dad, emyth etc, and bigger pockets books. I feel that I am getting a better understanding of how to find and evaluate deals, and I am working on my mindset more and more. I feel that I need to get a good idea for what kind of risk I am willing to take and what kind of financing option would be the best for me. How to determine the level of risk in each loan type and which strategies benefit my investment strategy starting out? I have 15k that I would use for payments etc as personal equity. I have a young credit score but it’s 705.
I am also happy to work with someone for free to learn more if you need any help.
Does anyone have a suggestion on an article or would like to connect with me and have a Skype or phone call I would really appreciate it. Coffee is on me. BIGGER POCKETS TEACH ME
@Pete Blankenship if I was going to start over I would house hack a small multi 2-4 units. 5% down or less owner occupied. Move every year for 10 years and have 20-40 cash flowing units. Conventional mortgage will be between 20-25% down. So for the same cash outlay less closing cost you can buy 4-5 multis.
@Tim Herman thanks for your input Tim. I love the idea of moving around around every year to continue to build up.
Please refresh my memory. What kind of financing stipulates that I must live in the house for at least a year?
Thanks again for reading and commenting.
@Pete Blankenship most owner occupied mortgages a year is sufficient to meet residency requirements.