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Updated almost 8 years ago on . Most recent reply
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Getting started as an investor
Hi everyone. My name is Andrew, and I'm working to begin investing in real estate. I have my goals of what I want to do, and when I want to get there already in my mind, but I'm having trouble getting started.
Let me tell you all a little about my background. I'm almost 33 years old, and I have made 4 attempts at buying my own house. The first two attempts were absolute disasters that cost me a good amount of money. My third attempt I only got to the pre approval stage before I was told by multiple lenders that I would not qualify. My fourth attempt was successful and is where my wife and I call home.
My ultimate goal in real estate is to hold long term wealth with income properties. Getting there seems far fetched considering I really have no means to fund any of my own deals. I was hoping to get started by becoming a "deal finder" and wholesaling properties to more experienced investors, making enough money to get out of debt and support my family.
I know there is some good money to be made in real estate, but I also know that you can lose a fortune if you're not careful. I have made a few calls to some places that advertise "we buy houses" but so far, all I have gotten is that in order for them to help, I have to be the property owner.
I am open to discussing other methods of beginning in real estate investing besides wholesaling properties. Any advice or guidance would be appreciated to a new investor.
Andrew