Trying to become an investor at 23
Hello everyone,
My name is Marcos and I currently live in San diego California. My girlfriend and I have 2 options we are thinking to invest into a duplex so we can move in into one unit and rent out the other and hopefully get an FHA loan or we can try and look around for a single family home for us to rent out and put a 20% downpayment. I am thinking of wholesaling in order to get some money for a downpayment but how can I get a property under contract. I will be driving around a neighborhood that I am currently interested in any tips?
Most Popular Reply
Buying a duplex with an FHA home and house hack it would be the best option for a lower down payment. You can live it for 1 year and then you can move into another duplex with an FHA loan. FHA loans have there limitation, but they can work. A conventional loan would be better.
Doing wholesaling is a difficult way to earn money to save for your down payment. Possible, but difficult. There are many ways to find properties for wholesaling, but they are not all cheap. Bandit Signs, Direct Mail, Social Media, Networking, MLS, FSBO, driving for dollars, etc.
- Eric Janson