New young investors looking to start out
I am a young brand new investor who is looking to get a couple of rental properties under my belt over the next 5-10 years. My credit is around 700, 26 years old, not a lot of cash for a down payment. If any one can lend me some advice on what I should do to get started? What steps do I take?
Also willing to learn from experienced investors in NJ area.
Thank you in advance!
Most Popular Reply
Hi @Rafael Cruz
You sound like someone that would be perfect for house hacking with a FHA loan. I would start looking for some 2-4 unit properties that you can live in and rent the other units.
That way you don't need a lot of cash down and you can jump start your investing!
If you aren't familiar here is a good BP article on house hacking: https://www.biggerpockets.com/renewsblog/2013/11/0...
I am currently doing this and wrote a blog post myself as well: https://www.biggerpockets.com/blogs/8534/52511-my-...
Best of luck!
Tony