New investor: need tips to starting out
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
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.