Pre-approved for 250k, What should be my 1st investment?

3 Replies

House hacking a plex can be a great way to get started if you don't have a large family. Scott Trench has a great story there.

The first thing you should do is educate yourself. BP is a great place to do that. Every area of the country has different markets. You need to get to KNOW your local market, understand values, how to compare properties, etc. Supply and Demand are the foundation of real estate. What is the demand for in your area? What are the rents? High, low,? How much of a supply of properties are there? What is the economy like? There's a lot that you need to discover before you narrow down the best options for purchasing. The list I've given is a tiny part of the puzzle.