Analyzing that first Rental and knowing when to jump in!
There are many things on the calculator that I don't know how to obtain quickly and accurately enough to analyze the deal, multiple deals, with confidence in succession and then offer on them. These things include:
Landlord Expenses/Rent
Cap Rate
Loan Details
ARV
Repair Estimate
I've also been told to be pre-approved, but is that even necessary at twenty years old? I feel like it'll just be complete rejection given that I'm in college with little work history. Furthermore, how does having investors waiting idly by with cash work? Is it just a verbal agreement? My final question is whether or not cash is literally cash or could it be an open HELOC loan that is ready to go, or something of that nature?
Most Popular Reply
@Timothy Douglas you know what's better than trying to buy property with low or no money down...?
Learning to make a strong enough revenue stream that you don't have to be limited to the "low and no money" methods we hear about. You're so young- go and learn how to generate revenue! Get into real estate sales, or wholesaling. Or learn to raise funds if you think you can be good at it (not the approach I'd recommend).
Just get some money. Then turn it into more money. Then turn that into even more money. THEN, go make passive income on it. You're not trying to retire at 25 anyways, you'll be all kinds of bored.