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Updated over 17 years ago on . Most recent reply

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20
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Buying with large debt already

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Posted

Hi all,

I am very much motivated by everyone's posts and books I've read. I am looking to buy my first property! Here's my situation, I have about $15000 in credit card debt and have a car loan. I would sell the car but it is my means of transportation. Does anyone have any recommendations on buying property with hardly any cash. I have heard of people buying property with no money down but how likely is this? My goal is to purchase property and have tenants living in it. Or purchasing a single family home and resell.

Are there any recommended books on renting out property? I guess what I do not know is what terms would you have the tenent agree with or terms/process of buying and selling a home.

There's just so much information out there. I know some people say to just get out there and do it but I just feel as if I need to know more first. Any help would be appreciated :]

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