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Updated 9 months ago,
Scared, Nervous and unsure how to start given tricky financial situation
Hello BP members!
I'm excited (and nervous) to be here. I feel completely overwhelmed and not sure of where to start. I guess I'll start by sharing a bit of myself and how I got here.
A few years ago, I saw a listing for a 4 plex in a nice part of a city in the CA Bay Area and thought, that would be so great if I could live there and collect rent to help pay off the mortgage (it was even listed for a reasonable price, though I'm sure there was a bidding war for the final sales price). I had no idea how to take an action on this, and the property eventually sold. Fast forward to the present, and unfortunately due to hard times, I've since lost almost all my life savings and am long-term unemployed. It now seems impossible that I could ever be a property owner. I am, however, motivated by reading stories of others who started out with very little (albeit, in a much more forgiving market than the bay area) and amassed quite the portfolio.
I think the only way I could get into a property in the bay area would be to have a set up similar to the one above. I currently pay $1700/month in rent. I would appreciate any advice on if there is any way to get started given my situation? I have watched the 90 day challenge webinar and have been reading posts on BP nonstop. It looks like my first step, per the seminar, is to find an investor's agent. But that seems like a 3rd or 4th step, really. I am sure there are other things that would need to be done first.
Someone posted about working part-time at a RE or investor's office, and I would be willing to do that for a fixed, short-term, like 6 months or so, but a lot of the job postings require a license. If any one can offer insight and/or advice to get started for my situation, that would be appreciated.
I feel scared to go it alone and so even if the advice/mentorship is just through DMs I would appreciate that very much. I feel like I made a huge first step just be coming to BP, but now another huge big step awaits me, I'm just not sure what that is.