New Investor Ready to Rock
Hellp BP People!
I am new to BP and live in Northern California. I have long known the power of investing and passive income (Rich Dad, Poor Dad changed my life!) and I am now ready to begin my investment journey. I have the Ultimate Beginners Guide printed and will be reading/studying this weekend (Happy Labor Day!)
My biggest unknown is the MONEY part, and to be honest it is daunting and terrifying, but I am GOING to move forward regardless. Should I buy locally? Is it better to find a less expensive market out of state and use a property manager?
Have located a 4plex in Louisville, KY that initially looks like a money maker (rents are twice what mortgage would be less taxes, etc.) Price is $195K but I have NOTHING to invest. Where do I go next?
Anyway, I have a ton of questions and the more I read the more I have. If there are any BP folks that would be kind enough to help me better understand how to creatively finance a purchase I would be very grateful.
Thank you in advance for all the help I can get from this amazing group of investors.
Phil Clark