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Updated about 11 years ago on . Most recent reply
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What is the best way to get started?
For years now, I have wanted to get into the real estate business. My family and I have moved from Canada to Utah (Cache Valley, Logan), which means I essentially have zero credit, as we're starting all over again.
I have read through many of the posted blogs, read many of the discussions, but need a little bit of direction.
I currently have enough for a small down payment on a property. However, my wife and I have never owned a property before (rented for 10 years). Would you recommend financing a single home as opposed to a multi home?
This is very basic, and I know my knowledge is very limited. I've tried reading as much as possible, but I'm more of a "do it yourself" kind of guy, looking to get my feet wet. This will not be a hobby for me.
Any advice would be greatly appreciated!
Most Popular Reply
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Start with your education first. As much as I agree with everyone else that buying and living in a multi would be a good option to start, that may not work best for YOU. Especially depending on market conditions and prices for multifamily housing in your area. Without some prior learning you may end up buying a multi on a bad deal because you REALLY wanted to buy since everyone said to. Like some people said before start with the Ultimate Beginner's Guide to Real Estate Investing. Listen to some podcasts and find out if a single family or multi works best for you. We can't answer that for you, just point you in a direction.
Onan