Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
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 almost 4 years ago on . Most recent reply

User Stats

12
Posts
7
Votes

New investor: need tips to starting out

Posted

I am 23 and I am looking to getting into the real estate game early. My strategy would most likely be buying properties and managing remote with property management companies since I will probably be going through multiple moves with my job throughout the next 5-10 years. I only have about 5k cash available to start. I would like to implement the BRRRR strategy or find good profitable turnkey properties to make sure I can cash flow positive.

With the limited cash I have, what process/loan types should I follow to getting first cash flowing property?

Most Popular Reply

User Stats

1,407
Posts
795
Votes
Aj Parikh
  • Rental Property Investor
  • Centreville, VA
795
Votes |
1,407
Posts
Aj Parikh
  • Rental Property Investor
  • Centreville, VA
Replied

Hi Rodrigo,Welcome to BP!!!! 

I think with that amount, you are better off educating yourself 1st with books, podcasts, meet ups, and webinars. Even joining a mastermind group wouldn't be a bad option. If you have decided to invest out of state, then look into markets like Cleveland and Memphis where you can find cheap properties which cash flow and it would fit your budget. Also, talk to a lot of lenders in those areas who would be willing to work with you on that budget. It will be tough but who said REI was easy. Good luck and let me know if I can help in anyway.

Loading replies...