new investor looking for advice

[Peter Huggins]

Hi ,

I'm a new property investment looking at to buy, fix and rent out multi family in the Newark and irvington area . Does anyone have any advice or pointers? Any help would be appreciated

[Kevin Siedlecki]

@Peter Huggins, the best advice I can give is to start small. Don't be lured by the promised of huge returns or profits on very cheap properties. Find something where numbers will work for you, and it doesn't require a huge renovation or rehab. Hit a single on your first property; don't swing for the fences. You can't afford to strike out on your first one. Once you're on base, and you've learned how to negotiate an offer, manage contractors, get renters, etc., then you can start looking at riskier, potentially more profitable deals.