The First Step For Me

[David McClendon]

Hey guys, I'm new here on BiggerPockets and also a new Investor(or at i will be haha).Im currently saving 1,000-1200 a month to go towards getting a cash property for the BRRRR Method. But it will take some time. Im usually not one to rush processes because its not healthy. But I was wondering are there other ways, like FHA,HELOC,Private Lenders that could help me accelerate my journey, and which of these methods are mostly beneficial. Im doing my due diligence and analyzing 2 properties a day through MLS(getting used to the flow of things), and also reading books like "BRRRR By David Greene" and "Estimating Rehab Cost) By J.Scott. I figure the better i get at analyzing good deals, the more positive my situation can be. Any thoughts?

Edit: My main reason for typing this is because i really dont want to drag my feat and wait for the "perfect opportunity".truth is there will never be one. So i want to gather as much knowledge as I can and take that leap! And get better as I go

[Reid Chauvin]

Without knowing your personal financial situation, I would think it'd be a lot quicker to finance an investment property purchase with a mortgage rather than trying to save up to buy it outright with cash. 

You can only get an FHA loan if the property will be your primary residence, but this could be a great option if you're looking at multi-unit properties where you can rent out the other units. This is likely the lease costly method (both in upfront costs and in interest paid) for you to get started.

You can also look into getting a conventional loan for an investment property, you'll need to put down at least 15% for a 1-unit property (25% for 2-4 unit).