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Updated almost 4 years ago on . Most recent reply

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Curtis Sleme
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Can I start in real estate by building a duplex/complex?

Curtis Sleme
Posted

I am new to Bigger Pockets and am wanting to get started in investing in rental properties. I thought that with bad credit (bad financial decisions from my past) and little money I would not be able to get into it but I am listening to the book "How To Invest In Real Estate" and it is motivating me to want to try. (My goal is to obtain enough passive income to be able to help/work for a ministry that I am passionate about and also live comfortably) 

Just looking around at the market, since my lease is due in 3 months, I am interested in the idea of owning a duplex and renting out the other half to reduce my housing costs. The problem is I can't find any good opportunities for something like this in Albuquerque NM where I live. I would like it to be a somewhat reasonable location to where I work. 

I am wondering if it is possible to start out by creating the opportunity? I don't even know if I can get a loan to do all this in the first place but is it possibly rewarding to get a loan to buy some land (on the outskirts of the city where they are expanding) and have a duplex built? Or do you guys recommend to start out by buying already existing rental property? 

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