Newbie North Nashville
Hey yall. Nashville native here. Single, 28, work full-time for a concrete company and rent in Hendersonville. I have decided to break up with my rental and I'm reading books and listening to podcasts trying to educate myself on moving forward with real estate investing. I'm interested in the BRRRR method to achieve cash flow (I have no idea how much cash flow I want). But I love the idea of flipping as well. My long term goal is to be able to do real estate investing full-time within 5 years. I have great credit and have managed to save 10% cash for my 130k budget. I have been pre-approved for a conventional loan and would like to buy my first investment within the next year. I met with a lender and he said what I am looking for is a "dinosaur" rare and hard to find. The realtor that I met with also told me I am five years too late to be getting started. I've tried picking the brains of people I know that are doing the same thing but no one seems to be thrilled about feeding this hungry girl their information, therefore, I've decided to become their competitor. Basically, I'm going it alone. I know contractors and am not afraid to get my hands dirty but I need advice on how to find something in my budget. Also, is a conventional loan the best way to go or is there a better way to finance this method and how do I find these affordable deals ? Any help appreciated.
Most Popular Reply
Katelyn,
You should check and see if there's a local REIA (Real Estate Investor Association) chapter near you. That would be a great way to find some potential off-market deals. It's also a great way to find potential vendors, GCs, agents, PMs, etc.
Good luck!