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Updated about 11 years ago,
New To Real Estate Investment-Help Needed!
Hello!
I'll start out by saying that I'm brand new to real estate investment, so please feel free to dumb down any of your replies to my post... I'm still learning!
A little background: I'm very interested in a buy-and-hold investment strategy. I would like to ultimately build up a portfolio of rental properties that provide enough passive income to live on. The first property I plan to purchase is in the College Station, TX area within the next year (I plan on going back to Texas A&M for my Masters within the next 2-3 years). I currently live in San Diego, CA but will be moving to Texas within the next couple of years and plan to run my real estate investments out of Texas. I have a basic understanding of the principles and know the math pretty well (I'm good with asset valuation).
Here's where I'm stuck. Like most newbies, I'm having a hard time wrapping my head around the financing piece. Right now, I don't have the cash to use for a conventional 20% down payment. In all honesty, I don't even really have enough for 10%. I'd like to use as little of my own money as possible to get started. Would anybody be willing to teach me a thing or two about financing my real estate deals? What options are out there? How do you arrange financing other than from a bank?
Thanks in advance for any help!
Josh