Potential first property.
Hello everyone!
My name is Rob I’m from Warren Ohio and I’m currently loosely looking for my first property. I need help with two things, first the reason I’m loosely looking is because my wife isn’t completely on board with investing. One reason for this is we have 2 young kids (3yrs & the other is 1 month) another is because well it’s a risk... So my new proposal to her is to start out with a cheaper single family home ($26000) to get our feet wet and learn more about how it works before getting into higher priced multifamily properties. So the first piece of advice I need is how to get your significant other on board with real estate investing?
NEXT In Warren this house probably needs 5k to freshen it up, new carpet, paint and misc. I haven’t looked at the house in person to know if there are any major underlying issues yet but I’m thinking I could purchase this house for around 20-23k, put 5k in it and rent for 600-675. Seems like a good deal to me. If you’re familiar with the area or have any suggestions I might not have thought of please share!