Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 4 months ago on . Most recent reply

User Stats

16
Posts
3
Votes
Samuel Martin
3
Votes |
16
Posts

Beginner investor advice needed

Samuel Martin
Posted

Hey everyone! I purchased my first house about 2 years ago and acquired roommates within the first 4 months. I've made some improvements to the house since I've bought it. My question is how can I go to the next house? I'm starving for more and i have very limited capital. I think I stretched my DTI with the house purchase I did 2 years ago. Any advice helps. I'm in the nashville area. I'm ready to take the next steps to get the next deal and more further down the road. Rehabs and flips do interest me but i really dont know how to look for good deals. Again, any advice would be more than appreciated. Thank you!

Most Popular Reply

User Stats

28,053
Posts
41,046
Votes
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,046
Votes |
28,053
Posts
Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

Stop watching YouTube. There are too many snake-oil salesmen selling lies. Building wealth takes time, money, and effort. Any attempt to short-cut the process is going to hurt you.

Figure out a side hustle to raise more money. Reduce expenses to save more money. Build up enough that you can purchase the next house.

If you move out of your current house, could you rent your room and create a cash-flowing property? If so, focus on saving up enough money to buy another home and create a second house hack.

Don't live in your property for free. Pay rent every month just like the other roommates do. This will demonstrate how the property performs as a pure rental, and it forces you to save.

  • Nathan Gesner
business profile image
The DIY Landlord Book
4.7 stars
165 Reviews

Loading replies...