Hi @Anthony Grepo ! Welcome to the BP family! You came to the right place to learn all about real estate investing! Here are some recommendations for you:
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Really Amit? Because Mobile Homes and parks are some of the highest returning investments in all of real estate! That is why Sam Zell & Warren Buffet are two of the biggest home and park owners on the planet. Buffet even owns Clayton homes. Check out John Fedro's blogs and site here on BP. His model is perfect for those with little cash to get started.
Amit, please keep scaring folks away from MHPs b/c we're buying and they are the golden needle in the haystack!
Hello and welcome to BP. I think you should read everything you can get your hands on for right now. Make a budget to save for a down payment. Read deals that people have on here and find out the why and why nots that people are telling them. Then go look for a property. Write out the numbers here and get advice. If you have the downpayment for the loan then you can go to a lender for the money and then you will be investing. If you can start looking for amazing deals that are home runs and then find someone else to equity partner with you or to wholesale it to. Wholesaling it to someone will help you get some cash up fast if you can do this.
Good Luck! If you have any other questions tag me in the question.
Hey @Anthony Grepo , first of all, congrats on making the decision to begin investing in real estate because this is IMO the best way to invest your money.
1) Start saving. If you plan on doing this yourself you will want to have a stable income, good credit, and a good amount in your savings depending on what type of asset you want to purchase and your strategy. Or you can find other ways of funding by asking family, friends, etc.
2) Get educated (books, podcasts, videos, etc). You will want to get a general overview of what it means to invest in real estate and then dive deep into the niche that you feel most interested in. **Tip: ANYTHING can be found online and ANYTHING can be learned through the web. Don't underestimate the power of the internet.
3) Know everything you can about your market through online resources (county website, local newspaper), local investors, real estate agents, etc.
4) Learn about the different financing options and requirements for each. Get pre-approved and begin your search
5) Network with real estate agents, brokers, and banks. Get to know the network in your community and the importance of each.
6) Once you feel that you have a good grasp on what you want to do, take action and go physically see and make offers on properties based on your own criteria.