I am new to the Real Estate Investing Market. I have co-workers who do it and have for some time and very successful at it. They have different methods and are involved in different things in regards to real estate. Some flip, some have rentals, some do mobile home owner-finance; all of which seem to be successful for them.
To keep it short, I want to get started. I recently was pre-qualified for 100k FHA mortgage. I think it may be because I have two vehicles under my name and a boat. I make decent money and have cash in the bank (around 45K)
What would be the best method for me? What should I be looking for in the market?
@Anthony Aulds from what I understand about FHA loan you have to live in the resident too, so you can look for a multiplex. Live in one unit and rent out the other.
You have cash to flip a mobile home in a park to start. Buy a repo or distressed house, fix it up, and resell. You won’t have to borrow money or partner with anyone and probably make more profit/% in 90 days than you would with any other investment. I’ll be happy to share more details.
I’d love to hear from you. I need more advice