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Updated about 11 years ago on . Most recent reply

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Natalie Olivo
  • Bellerose, NY
3
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Getting Started with little savings

Natalie Olivo
  • Bellerose, NY
Posted

Hello BP folks!

I'm very new to the community.

I joined Bigger Pockets not too long ago and am trying to get into buy and hold. I like the idea of reliable monthly cash flow. My starting goal is to have a steady cash flow of a couple thousand in around two years.

I have about $8,000 in savings, some credit card/student loan debt that should all be paid off by next year. I make a decent salary doing work in technology sector, but my instinct tells me that I should pay off my debt before owning my first investment property. I've never owned a home but have taken a few real estate courses in the past.

I've just begun looking for deals and properties in the jersey area (I live in NY). My question is has any one had any success with turn key (tenant included) properties? I'm thinking turnkey is a good low risk way to start out, since they are likely already managed and proven as rentable spaces. I'm open to any advice you can give me!

Great to be here! Thanks!

Most Popular Reply

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Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
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Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
Replied

Hey @Natalie Olivo welcome! Definitely start jumping into the community here! Be sure to read through The Ultimate Beginner's Guide to Real Estate Investing to help you get started.

Finally -be sure to setup some keyword alerts - especially for "Bellerose" so you can jump into local conversations.

See you around the forums!

  • Brandon Turner
  • Podcast Guest on Show #92
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