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Updated over 4 years ago,
Newbie Out of State Real-Estate investing
Hello, I am a traveling RN who has decided he wants to be financial free and refuses to let the man take care of him or his family. I want to look after my own interests and want to start in real-estate investing. I make decent money and have enough to get started. I was going to wait a year and educate myself on this new way of increasing passive income. I also want to wait and see if the market crashes. So a few questions.
Should I sell my primary residential house? I took a loan out on it last year and currently renting it out to my sister and my GF for a negative cashflow.
Should I take out more loans and buy my first duplex and start right away in Ohio?
My friend who lives in Delaware is wanting to create an LLC and start buying and BRRRing foreclosures in the Delaware area, our goal is to save up enough cash and be able to buy without pulling out a loan any precautions or advise?
Any advice would be wonderful, Thank you and best regards Josiah Hrusch.