Just starting out newbie investor

[Philip Murtagh]

Hello, I have just recently got interested in RE investing and was wondering if it was possible to invest in a rental with only 15K saved up? I know it's not much but at the money, that's what I have saved and would love to start building equity and one day become a full time RE investor. I am only 25 yrs. old so I know I have a bit to go but was wondering if anyone could provide some advise to a newbie. Thank you!

[Mike Day]

Hi Philip. It's possible. You'll likely have to put down 25% on an investment loan, so you'll be looking at properties priced $60k or less. I don't know if those are available in your part of New York, but they definitely are in the Midwest and the South. For your first purchase, it's a good idea to stay close to home since long-distance land-lording has its own set of headaches and lessons to learn. Good luck!