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Updated about 2 years ago,

User Stats

43
Posts
29
Votes
James Hamilton
29
Votes |
43
Posts

On the verge of my first property!

James Hamilton
Posted

Hello everyone, I could use some advice. I looked at a FSBO single-family house in St Louis that is within my price range and will cash flow right off the bat. In a good area, good schools, it all checks out. I also have another property that i'm interested in, but it's through a very reputable turnkey company and it's out-of-state. Very similar financials, with purchase price and cash flow.

I am torn. Part of me wants to start locally, learn how to be a landlord, earn my place in this real estate investing world. But that comes with more uncertainty. The turnkey property is out-of-state, so it would be almost 100% passive, but more of a sure thing in my opinion.  

Considering I have almost NO experience or skills other than educating myself, do you have any advice on what to do first? I only have enough capital to purchase one property at this point. 

Also, the seller is going FSBO. He would have to raise his price if I wanted to bring in my real estate agent. Is pursuing a FSBO without a realtor seriously risky? Would it be worth a couple thousand to get the realtor involved in the process?

Thanks all, hope you're having a great week!

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