They tell me Chattanooga is one of the hottest markets. I need help on how and where to start. I'm in my late 40s with my own capital up to 140k. I read is lot of the forums but just too scared to take the plunge.
Honestly what I would tell you to do is you need to do nothing first.
What I mean by that is before you spend any money or buy any properties or do anything you need to make sure that you’re educated.
I would first focus on what my goals are and I would focus on what my strategy is going to be to achieve that goal and make sure I knew that crystal clear and I knew how I was going to achieve that
meaning the strategy and what types of properties which are the tactics are going to help you get there
Just because somebody says this area is a great area or a hot market does not necessarily mean it’s a hot market for you based on your goals and based on your strategy
it could actually be something that makes you go bankrupt if you have different goals then this market provides
Slow down to speed up And educate yourself as much as possible before you do anything
@Willard Clark the hardest deal is the first one. Imo It's hard to for anyone to give you a plan of action or advice with out knowing more about your goals. What investment strategy is appeal to you? How active do you want to be?
Honestly what I would tell you to do is you need to do nothing first.
What I mean by that is before you spend any money or buy any properties or do anything you need to make sure that you’re educated.
I would first focus on what my goals are and I would focus on what my strategy is going to be to achieve that goal and make sure I knew that crystal clear and I knew how I was going to achieve that
meaning the strategy and what types of properties which are the tactics are going to help you get there
Just because somebody says this area is a great area or a hot market does not necessarily mean it’s a hot market for you based on your goals and based on your strategy
it could actually be something that makes you go bankrupt if you have different goals then this market provides
Slow down to speed up And educate yourself as much as possible before you do anything
In my opinion, you need to start with your goals and motivations, those are the main reasons you're doing this and will help keep you focused. Then back out those goals to achieve them within the time horizon you're looking for. The more specifics the better. There are many paths in real estate so there is a ton of potential avenues to offer advice but you need to share your endgame first.
@Willard Clark Hey there, super cool you've decided to use your savings to invest in real estate. Curious to know your reservations that are holding you back?