Updated over 9 years ago on . Most recent reply
Need advise
Have some modest experience in home purchasing but thinking of RE Investment in either Orange County, CA or in DC Metro (Va, Md , DC). Have high credit score but with Job abroad. How much cash one needs to start? And what scheme is best for newbie?? I.e. notes? rehab/ refi? Hold? etc.
Will be much grateful for serious advise.
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#1 Rehabbing & House Flipping Contributor
- Residential Real Estate Agent
- Irvine, CA
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#1 Rehabbing & House Flipping Contributor
- Residential Real Estate Agent
- Irvine, CA
@Pete PerezI wish I had that answer! To be honest, your best bet in my opinion is to save a sizable downpayment, and once the market turns you'll be siting in a good place to pounce. You can do some market research on the IE and see how the last two market turndowns went, and see around what time the markets hit rockbottom and then turned back into a great sellers market like it is now. As you know, the market is cyclical and the big downturns happen around every ten years.
That being said, you should always research the market you are headed into. If you look out of state do some research, get into contact with some people out there to partner with, and fly out to that area a few times until you fill comfortable about getting into that market.
- Peter Mckernan
