Getting Started With First Property

[Jose Velazquez]

My family has a property and they are still paying the mortgage on it. They are willing to give the property over to me. It is a duplex and needs some fixing up but not major fix-ups. People have been offering to buy it from them giving more than what they paid for. My idea is to get a loan for repairs. Fix up both units. And sell it for more leaving me with no debt and some profit. Then with the money, I made invest it into a rental property. This is my idea because I have little to no money right now. The other option I see would be to fix it up and then rent out both or live in one and rent out the other.