Starting out, I own my home

[Danielle Smith]

For the past year I have been studying RE, listening to BP Podcast and taking notes. I have completed the Real Estate course not sure if I want to become an agent or not. I am more interested in investing, beginning with fix and flips also buy and holds once I’m established to create passive income. I need some good old advice !!

-I have w2 income for 2 years

- credit score 673

-Little to no savings !!

-I own my home free and clear, the rehab is almost complete.

-Comps in the area range from

Listing Price between $15,500 and $34,000

Selling Price between $29,000 and $34,200

- I purchased the property for $1600 at the foreclosure auction

-$10,000 in for complete rehab Including roof.

Where should I I start???

[Nathan Gesner]

Save. I know a lot of people say you can invest without your own money but that's so they can sell you a book. Save up money for a down-payment to ensure you're not over-leveraged. Save a "reserve" so you can handle vacancies, maintenance, and all the bad things that pop up when first buying an investment.

My recommendation is that you read a book like "Set For Life" by @Scott Trench and get your financial house in order so you go in prepared. Investing from a solid financial foundation will increase your chances of success dramatically.

[Danielle Smith]

@Nathan G. Thank you I’ll check that book out