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Updated almost 4 years ago,
Getting Started (Again)
Hello all!
I wanted to make this post to help get my real estate juices flowing again! I am a recent graduate of Murray State University and have been working a white-collar job 9-5 job as an architectural graduate since my graduation (1 year). I am understanding day after day why most of you are so invested in real estate and everything of the like.
Since graduation, I have taken advantage of these scary and dangerous times with Covid (and frankly starting my adult life outside of education.... scary). The Covid zero-interest student loan interest program helped me out a lot. With saving enough from work and (Thankfully my parents allowing me to stay at home for a while) I was able to write a check for the entirety of my student loans (Which that awesome feeling hasn't set in for me yet).
This set my real estate dreams back a few months as I needed to recoup my savings from my student loans. I am now back to my pre-student loan finances and I wanted to seek any advice for a young newbie looking to find financial freedom. I am good with my hands and love a good home renovation project. I love math and analyzing properties and seeing the potential in properties. I am interested in rentals, flipping, and am open to other facets of real estate.
My current situation and progress into REI:
I have an LLC set up and ready to go, I have a real estate agent actively showing me SFH and multifamily, I have been in contact with a recommended lender, and I have a 50/50 partner.
Should I look at homes that are under 50k that need a lot of love and are a big project, or try to use more leverage to buy nicer/newer homes that need less work but still offer a good ARV? I am interested in flipping to gain more capital to buy larger multifamily properties in the future.
Any advice is welcome! I would love to connect with anyone and discuss further!