I bought a foreclosure from a S & L for $2,900.00. Fixed it up and rented it in 2002. Have over 100 cheap rentals now.
My husband and I started out with about two years of stalking the forums here on BP and listening to the podcast...it was a huge source of education for us and gave the confidence we needed to close our first deal.
We found our first buy and hold property on the MLS and had a good friend and trusted realtor who showed it to us and helped us break down the pros and cons. It was a traditionally financed purchase, so low drama and once it closed we couldn't wait to find our next one.
If you haven't already, I would recommend finding a real estate agent that you trust, and also start talking to lenders (banks, mortgage brokers, credit unions, etc.) I'm not sure what your financing strategy is for your early phases, but it will save you time and money in the long run if you're familiar with all your options now.
Best of luck to you and I look forward to following your journey!
Hello! @JaVern Taylor
Welcome to BP, and congratulations on making the decision to invest in your future via real estate.
I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.
First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:
The second is a post that will help get you focused with your real estate investing goals:
The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.
I love answering questions if you have any! Good Luck :)
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