Updated about 8 years ago on . Most recent reply
New to Investing...any tips?
Recently I've been listening to a lot of the BiggerPockets Podcast and I'm more motivated than ever to start investing. I'm particularly interested in buying two-family homes and renting them out. Reason being, is because I don't have much capital to start off with (about $5K) and I remember listening to someone on the podcast mention something about certain loans that allow you to only put down 3-5% instead of the conventional 20% as long as you meet certain requirements (like living in the place for one year).
I live in North Jersey where the typical two-family home goes for $300K+. I have a general idea of how to buy and rent out properties from what I've listened to on the podcasts and read on here but I feel like what's holding me back is my initial capital. Any tips or advice on how I can go about this? Maybe find an investor to go in 50/50? I'm planning on starting a family within a year and I would like to make real estate investment my main means of income.
Thanks for the help!