How soon should I invest in my first property

[Caleb Matteis]

Hello Bigger Pockets FAM

My name is Caleb. I'm a newbie. I'm a letter carrier in Morristown nj that's my full time job. I've been reading and educating my self on everything real state. I've been reading posts in this forum, reading bp blog posts and I just finished reading bp ultimate beginner guide.(I've been really inspired) My question is how long should I wait to invest in my first property? The strategy I want to use is a buy and hold/rehab. That what seems to be the trend in the area of New Jersey I'm in (which is Orange, Newark, East Orange area). Should I wait a year or should I give my self a couple months?

[Joel Belding]

@caleb matteis Generally speaking, the sooner you start investing in real estate, the better! I advise that you have a few months worth of the mortgage payment put into savings before buying, so that you can cover the payments if there are any delays in getting a renter moved in. This will also give you a buffer in case you need to have some minor repairs done. If you buy your rental property at a good price, you can always sell it if you run into trouble. The key is just to get out there and do it!

-Joel