Updated over 5 years ago on . Most recent reply
Not a good time to start?
Hi, I listened to a BiggerPockets podcast and fell in love. I was listening several hours each day and decided this is my answer to all my woes!!! I get up at 3:30 am while everyone is asleep and read until 5 am and then on breaks, evenings, days off I read several more hours. My family noticed and when asked what I was doing I explained. Their "ask" is that I buy a nicer home for us to live in before I started on my "next best thing". We have heard gunshots lately, so I get it. I want to jump in and get started but am worried that I may mess up our chances for financing a new home if I buy y first investment property. Is this true? I'm truly inspired by everyones story and I want my own. I even put my MBA on hold yesterday (withdrew) to chase after this dream. I figured time studying for that could be better used studying and seeking out deals. What are you thoughts?
Most Popular Reply
Its never a bad time to start, you just have to make smart decisions and go after good deals. If the deal is good the timing doesn't have a big affect.
Make sure you buy a deal that you can ride out the bad times in, it must cash flow now and it must cash flow in the future to not bet on the future with todays money, no one knows what the market looks ike tomorrow but if you buy right today you will be ok. Buy with the mentality that you are making your money when you buy, not when you sell.