Updated over 7 years ago on . Most recent reply
Starting out and need advice!!
Hi everyone, so this summer I am finally ready to take action in flipping houses. I've been back and forth with starting and now after listening to podcasts, i am ready. I currently live in Austin, TX and will be moving back home to Philadelphia. I will only have about $10,000 saved up by then. I want to ask you guys the route that you would take to get my first deal. I don'r have great credit or income so I was hoping to find a mentor/partner to help me get started and learn the business. But are there any other options i have for only $10,000?
Most Popular Reply
Do you have a job lined up in Philly? I'm thinking the lowest cost of entry would be an FHA loan to purchase a duplex and rent half. You'll need decent income and credit, so if you don't qualify for an FHA loan then I think the first steps would involve repairing your credit and building up your savings