Preparing to be a real estate investor.

[Roberto Diaz]

Hello Bigger Pockets community! My name is Roberto Diaz and I’m very eager to begin investing in real estate. This year I’m working on paying off all debt and saving $1,000 a month, as well as read as much as possible about the subject. 

My question is, if you were in my shoes what would you do? Our current income is about 100k a year, and we already have our first deal lined up. My parents are willing to sell us their house about 100k under its value. Where would you go from there? I’m really interested in doing Multifamliy and would like to start with a fourplex if possible after the house. 

Thanks I’m advance!

Edit: I should also mention I live in PNW here in Washington state where prices are, well, high. I was looking into other Markets like Michigan, Montana, Or Indiana.

[Roberto Diaz]

@Vick Galu Thanks, I was definitely going for the monthly cash flow for all the properties, I’d like to take advantage of the 4 Generators of wealth. As for my parents home I plan on just living in it with my family for the time being, but am looking into using part of the equity in the home within a year or so into buying it for the next purchase. I’ll look more into marketing that’s something I didn’t even think to do until much later on when I’m buying maybe multiple properties a year.

@Charlotte Evans Thanks for the tips, didn’t think about student housing but buying something to renovate is for sure on the radar.

I appreciate your time and suggestions!