Getting started in real estate

[Jorel Gibson]

Hello everyone my name is Jorel I am 18 I live in Fayetteville, NC I have recently found interest in the world of real estate and have figured out it is the Career I want to do full time I am still learning every day attending webinars reading books and trying to build my knowledge I came on here today to ask if you guys could give me advice on the first step I should take on the road to be an investor and if college is something you guys and help walk me through the steps of figuring it all out I am a hard worker I am very persistent and eager to live life the way I image it should be and will do whatever it takes any advice helps I really appreciate it

[Sarah Herzog]

save up about 10k. Put a contract on a home. As a first time homeowner there are tons of great programs out there. Buy it as a primary residence. You will live and rehab it over the next year or two. When its suitable for rental slap an ad on FB and rent that sucker for at least 100 over your mortgage payment. Once you have a signed lease contract on your rental and a small 5% down payment ready buy a new primary residence.... Do this over and over and you will always get great rates and decent loan terms. The key is to buy smallish 1200-1500 3 bed 2 bath homes in great rental areas. These rent fast and for great prices these days. if it has a garage even better that is a big renter wish list item. Find something thats in need of some TLC but hopefully not major repairs (roof, HVAC, and OLD electric) as they are all money guzzlers. If you need to or have enough equity you can refi and pull cash out of your primary residence or get a HELOC to get cash for buying your next property but usually a primary residence has low down payment requirements but will have PMI until you hit 20 % equity. Im in Wilmington NC area and would be happy to answer any questions you may have . GOod luck, now go buy your first home!!!