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Updated almost 3 years ago on . Most recent reply
Newbie looking for a hero
I am a new investor looking for any kind of advice. I am soaking up knowledge from a few books and forums, but am really looking for someone I can bounce some questions off of and pick their brain. I am not sure what the best way to start would be for me.
House hacking, BRRRR, Flipping, or just a separate rental. I live in West Texas. I am not apposed to buying out of state, but am so early that I do not know what what to focus on and how to find prime areas.
I currently have a full time job, and just under $50k to work with. I have a partner who is willing to work with me, with about the same. Starting small with a house where we are located is what we are leaning towards, but I do not want my money tied up for a long time in an unpredictable market right now when I have seen so many promising out of state opportunities.
Thank you in advance for any help!
Most Popular Reply
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Welcome @Elijah Drew!!!
My husband and I entered the real estate investment group by doing fix in flips. It’s a low barrier to entry and a great way to get in the game. We would buy with a low down payment loan product, and then either keep as a rental after a year or sell after 2.
It helped us get started with low risk and we were able to figure out how to be a landlord!
Good luck!