Updated over 6 years ago on . Most recent reply
First time home buyer
Fresh out of college here. I was able to work while going to school and saved a good amount of money. I now have a corporate job which pays pretty good coming out of college. No loans and now I plan on buying rental property. I reside in NY, everything here for the most part is 500k and up. I plan on buying a multi family house and make rent money. My only issue is...how can I get started. My tax returns for the last two years aren’t the highest but I saved majority of the money since I lived at home with parents and had no expense. Getting a loan from the bank for 500k is very unlikely, I want to start off small and immediately make rent money. What can I do to get things going, it doesn’t even have to be in NY. In other states like Tennessee I saw house for as low as 20k. But I don’t know anything about the area. The plan is to make rental income, the use w.e i purchase as equity to get other house. Any tips would be appreciated