Just trying to get started...

[Joey Shaw]

Hello,

I'm working to get into the rental market. So far all I have is a $60k HELOC that I intend on using as a downpayment (or down payments). I have spoken to a couple local banks and they won't give me an approval without rental history on the properties I'm looking at first. I have been looking at places around me because I thought it would be the best way to learn, but I'm in Maine and it isnt a super populated place and all the multifamilies are extremely old.

Am I going about this the wrong way? I'm open to starting out of state but don't even know where to begin, or if that would be the right thing to do. 

Any tips on securing financing or finding the right place in the right spot would be greatly appreciated.

Thank you,

Joe