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Updated over 2 years ago on . Most recent reply

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What would you do in my shoes to kickstart your investing career?

Lawrence Hunt Jr
Posted

Sorry for the simple question, I really want to start investing and get a couple rental properties but I feel I don't know enough yet. As a new person into real estate, should I find a wholesaler first and hire real estate agents? I just want to be profitable but I'm not sure if I can find a deal on my own with my little experience. I only have 2k saved up and am currently living with my fiance and her parents. I plan on staying with them until I at least have 5k saved up. My credit score is 775. If you were in my situation and started your journey from the beginning what would be the first couple steps you would do to ensure you don't end up in the hole financially?

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25
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Reilly Barry
  • Real Estate Agent
  • Milford, CT
12
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25
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Reilly Barry
  • Real Estate Agent
  • Milford, CT
Replied

The first step for you should be to build a team. I always advise new investors to find an investor friendly realtor in your market first. That agent should already have a team of investor friendly lenders, attorneys, contractors, and just about anything else you will need. Set up a consultation with your agent and lender to set up a plan for yourself so you have a starting point and end goal. My advice for someone in your shoes would be to get an FHA loan on a multi family, and rent out one side while you live in the other. This is a great way to kick start your real estate portfolio with limited liquid cash.

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