Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
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 on .

User Stats

3
Posts
0
Votes
Jamal Horry
0
Votes |
3
Posts

Newbie starting up "again".

Jamal Horry
Posted

My question: how do I start?

Background: 44 y/o, the SFH went to me for sole ownership after my recent divorce; Line of credit: 40K used during marriage and 67K left; I currently have tenants while I'm abroad and not planning to return to the U.S. for another 1-2 years. I was abroad when we purchased our first home, so I missed out on learning about the entire research and loan/purchase process. All I know is how to make the mortgage payments. Now, while I have to start afresh as this career is approaching sunset and my new goals have me wanting to include a REI as this stream of income.

Current: I found a decent sized single level house that I want to purchase. My intentions are to completely change the floor plan away from all this “wasted” space into 4-5 rental bedrooms and begin renting the rooms out to college students at a nearby college/university. I did some comp research and it seems there is a market for additional goals such as this...even allow for a modest cashflow for my "first" home purchase.

How would I get started on finding out if this is plan is even possible? Who do I need to contact? I need some basic help thru the purchase and rehab process. Yes, I’m interested in meeting the right people, but not right now.  I’m more interested in just learning the process for my own personal development and then we'll build the network.

Please help me out BP family!