New to Real estate investing
Hi,
Ratool here! I am interested in real estate investing. I have just started the education in this field and I am open to opportunities in and around Raleigh, NC area.
I have bought a primary residence a couple of years ago. But I want to expand my portfolio and get a steady monthly cash flow. What is the best way to start? Which property types to look for?
Regards,
Ratool Karmaker
Most Popular Reply
Congrats on wanting to get started! The first thing I would do is see what your primary residence looks like as a rental property. You could go and buy a new house to live in and turn your primary into your first rental property. I'm not sure if there are a lot of duplex, triplex, quadplex in your area. There is an option to use a 3.5-5% down-payment option live in one portion and rent out the rest. This would be the quickest and least amount of capital to get a few rentals very quickly. I would just make sure you are leaving enough that you feel comfortable with for reserves for capex, turnover, and vacancy. You could also buy a normal house and rent out rooms to friends possibly if you are comfortable doing that. Let me know if you have any other questions or need any kind of help.