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Updated over 4 years ago on . Most recent reply

User Stats

4
Posts
4
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Dane Moscatelli
  • Joliet, IL
4
Votes |
4
Posts

New to real estate!

Dane Moscatelli
  • Joliet, IL
Posted

Hello everyone! I am a newbie to real estate and am looking to gain knowledge on the industry. Interested in flipping initially, eventually renting out properties. I know there are very knowledgeable people here and would love to find out more information on how to get started! Thanks

Most Popular Reply

User Stats

24
Posts
12
Votes
April Munoz
  • Real Estate Agent
  • 78254
12
Votes |
24
Posts
April Munoz
  • Real Estate Agent
  • 78254
Replied

The great part about real estate is that there is no "ONE WAY" to do things. But there are 3 key questions to ask when you want to get started and based off of how you answer these questions, you will find the strategy that works best for you.

1. What rules are you using to calculate your rental property acquisitions (10% rule, 2% rule, Etc.)

2. How do you plan on financing the deal? (Cash, hard money loan, Home escrow loan, etc.)

3. How do you plan on finding these homes (Locally, nation wide, driving for dollars, real estate agents (hint hint), etc.)

The devil is in the details. The truth is anyone can eventually get to a level where they can invest in rental properties but not everyone can invest right now. Where do you stand when you ask the hard question "Am I truly ready to get started?"

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