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Updated over 5 years ago on . Most recent reply

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Need guidance for attaining first rental property

Posted

Hello! My name is Jordan Pouncey, I'm 22 years old looking for some guidance on buying the first rental.

My current plan.

1. Purchase 1st home (Cheap, Good "Rentability", Under Market Value)

2. Live in it for 6 months

3. Move into a very cheap apartment

4. Repeat, If the banks allow me.

I only make 3600/mo from my daily job so Im not sure if its feasible for me to purchase a multi family unit, that I could live in AND rent right now unless I find a really good deal.

My question is, What would you do in my situation, in order to get your hands on rental properties? I'm very uninformed and not even sure if my plan is even a good one.

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