Is this for real? Am I an imposter?!
Hi everyone! This is my first post. A little bit about myself. I'm a CPA - been an auditor for about 10 years now. My husband is active duty in the Navy. I was introduced to real estate this weekend when he played a BiggerPockets podcast for me. I was INTRIGUED! Is this for real? Is real estate investing really an attainable and completely possible endgame? Am I being completely foolish thinking that I could learn something that I know nothing about AND become more successful than in my current career?
Fast forward to today - 4 days later. I've listened to 2 more podcasts, watched a webcast and have become completely obsessed. I listened to one of Brandon's teachings and did exactly what he told me to do and found a "deal". Duplex, both currently rented (income about $1,800 a month). Sale price is $200K. BAM! Found a property where monthly cash flow is $400, ROI is higher than 12%.
I feel nuts saying this, but I WANT TO PUT IN AN OFFER. I can't do an FHA because I don't live in the city. I can't do a conventional loan because I don't have 20%. So... can someone give me some ideas on how I should proceed? And can someone tell me if I'm completely lunatic to consider making this move, seeing that I got introduced to this 4 days ago!?!
If you've read up to this point, thank you for your time! And thank you for your advice - this is all so exciting!
Most Popular Reply
@Ray Harrell, seller financing is your friend! There are a number of guys out there teaching seller financing strategy and how you can essentially buy a property with 100% seller financing if you just solve the seller's "problem". Look up Pete Fortunato and Larry Harbolt, masters at this strategy!