Just getting started investing

[Zak Smith]

I have a 2br condo that I live in. Rent out the spare bedroom. I took out a help and purchased a 1br which I rent out for 1100. I make 90$ cash flow. I don't make much money from my job. How would I go about purchasing my next property? Any tips and or ideas.

[Jim Pellerin]

@Zak Smith If you don't have much cash, then you can't really purchase. You need to do 1 or more of the following:

1. Start doing some wholesaling. It will generate the much-needed cash flow for you, which you can save for your long-term rentals.
2. Look at seller financing, lease options or subject-to's. These are no ways to control a property without needing any money.
3. Find some money partners to do some joint ventures with. They provide the money, you provide all the leg work and ongoing management.
4. But more importantly, you need a plan that follows a strategy something like this.