Newbie: Could impending recession doom a first deal?

1 Reply

Hello All,

Im a newbie and trying to plan, learn and research so that I'm ready when the capital and opportunity arise for my first deal. Part of me wants to dive in and start finding ways (loans/partnerships) to stretch my limited capital while looking for my first deal. I've heard lots of investors only regret not starting soon enough or not going hard enough and don't want to fall into the bucket of "never starters".  On the other hand, Im worried that limited capital, no experience and an impending recession could create the perfect storm to sink a newbie like myself for good. Are my concerns valid? Should I start now so I'm warmed up and ready to hit the ground running coming recession time? Should I just save, learn and prep so I can clean up when the recession hits?

P.S. Currently a renter and had the initial thought to look to house hack a duplex/triplex so I can get a low downpayment on an FHA loan since It would be tough to get 20% together + repair costs for a BRRRR. Are there other options/loans I should look into? Thanks!

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