Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 5 years ago,
Buying my first rental property
Hey everyone,
I'm just getting started in real estate investing but have loved every second of learning the process.
I found a nice duplex in an upcoming area that I'm about to move too. One side has a long term tenant and the other side has a month to month tenant. Rent is 665 a month for both sides.
When I plug all the numbers in to biggerpockets calculator, everything checks out great. 650$ cash flow per month and a 20% ROI.
I can't house hack because before I started getting into real estate investing I already signed a lease with another rental that I'll be stuck in for a year.
My question is, since I just started out I don't really have a lot saved up and I've never had a credit card(I just ordered one to start building my credit), do I just sit here and let this deal go to waste or is there something I can do to get the money? Maybe hard money lenders?
Let me know whatchu guys think or if you've ever been in this situation.
Thanks!