Interested in Real Estate investing!

[Nicholaus Johnson]

Hi, everyone my name is Nick and my wife and I are trying to start our journey to financial freedom and independence I have been watching the bigger pockets Youtube videos, I have read Rich dad Poor Dad, and have read some other stuff as well I understand that this is not get rich quick deal or even a quit your job in 90 days type of thing but I want real foundation so we can do this thing and do it right! We already own a home of our own and we're thinking of doing a Heloc in order to fund our first rental property and rent out our existing home but would that be wise? Our credit is not the best and liquid cash is not abundant at the moment but we are working on it so just trying to get some direction on the matter.

So my asks:

1. Any books or supplemental information that helped you on your journey to becoming a investor.

2. What's the basics of buying investment property (how much different than buying a personal property) 

3. What would you recommend with the information I've listed above on getting started.

etc. etc. 

Thanks in advance!

[Min Zhang]

Hey Nicholaus, welcome! You’re definitely on the right track with the mindset of building a strong foundation and not chasing “get rich quick.” A few things that helped me early on were books like Long-Distance Real Estate Investing and The Millionaire Real Estate Investor, which gave a good balance of strategy and real-world examples. Buying an investment property is similar to buying a personal home, but lenders will usually want a bigger down payment, proof of reserves, and they’ll factor in rental income differently.

A HELOC can be useful, but only if the numbers support it and you've set aside a cushion for repairs or vacancies. Since credit and cash are still a work in progress, house hacking or starting small can be a great first step while you build momentum. The biggest shift is less about the property itself and more about building the right systems and people around you. Happy to keep the conversation going!