Buying my 1st investment property

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Buying my 1st investment property

Yenika M.
Wholesaler · Philadelphia, PA · Member since 2016 · 37 posts · 4 votes

Hi Bigger Pocketeers,

Any advice on how I should start out? I will be a first time home buyer with a w2 Job and good or excellent credit. I didnt purchase yet. I think I like the idea of renting to gain cash flow. What would yall do. please Help!

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  • Jonathan StyerBusiness Member
    Real Estate Broker · Columbus, OH · Member since 2018 · 330 posts · 396 votes
    5y

    @Yenika M. welcome and congrats on beginning your journey! Your first steps will be getting preapproved for a loan and finding a Realtor who knows real estate investing. Best of luck!

    Styer Real Estate Professionals4.941 Reviews
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  • Grace Wang
    Realtor · Denver, CO · Member since 2018 · 227 posts · 241 votes
    5y

    @Yenika M. Hi! 

    Are you willing to house hack? This is the easiest way to get started with real estate investing. Not only are you saving cash on living expenses, but your tenants will be paying down the loan for you AND you'll be saving for your second investment. 

    Banks love W-2's, so you would likely be in a great position to do this. 

    What are they different strategies you've been considering?!

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  • Yenika M.
    OP
    Wholesaler · Philadelphia, PA · Member since 2016 · 37 posts · 4 votes
    5y

    @Grace Wang Hi. Thank you for that tip. That is a good one. When you say strategies. Are you saying.. What is my different strategies to make income? Please give me example im new at this.

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  • Yenika M.
    OP
    Wholesaler · Philadelphia, PA · Member since 2016 · 37 posts · 4 votes
    5y

    @Jonathan Styer Thank you!

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