Updated about 5 years ago on . Most recent reply
How soon is too soon to invest?
Hello BiggerPockets community! I have been learning about real estate investing for the past month or so, listening to podcasts, watching webinars, reading forums. Last night I was looking at the real estate deals listings and I came across a rental house that seems interesting to me. It is in a small city, not an A/B neighborhood but I lived in that city before and I know houses in that neighborhood are steady rentals. I know I can come up with the down payment for the house and then continue renting it since according to the seller, it is currently being tenanted. My question is, I have never started let alone close on a real estate deal, like I said I just started learning (I started investing in stocks in January and in July I encouraged myself to learn about real estate) about this so I know I need more practice on "running the numbers" on a property (the calculators here are great help though) so is it too soon to start with an investment? Is there an ideal time to actually invest in a property after you study and learn? What else could I be doing to be fully prepared? I really appreciate your help on this :)
Most Popular Reply
Run the numbers and share what you find on this website. Ever notice how the new guy at the poker table sometimes draws a straight flush and does not even know it? A lot of people here can help you work through them. In the end it is about (1) location and (2) numbers.