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Updated over 1 year ago on . Most recent reply

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Nick Tarantino
20
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26
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What is the best way for me to start in real estate investing?

Nick Tarantino
Posted

I have about 100k in savings. I currently live in Austin, TX, but I may move to Florida in one year. 

Ideally, I would like to have 10% cash flow on each property and the potential for long-term appreciation. 

A real estate investor in a video I watched recommended to buy the first house with an FHA loan, and then use the home equity to take out a loan on another house after two years, and then repeat the process over and over. Do you think this is a good method?

Should I seek to invest in Texas, Florida, or should I invest somewhere far away?

What would you recommend for me to get started? 



Most Popular Reply

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200
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116
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Alan Brown
  • Rental Property Investor
  • NY MA CT VT MT, MO
116
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200
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Alan Brown
  • Rental Property Investor
  • NY MA CT VT MT, MO
Replied

Whoa, yah what @Nick Elder along with many others said seems right on to me:  you got to house hack, and for me,preferably if your starting out, if you can get ahold of a 4 plex owner occupied, low income/low downpayment loan and house hackit!  But the best bit: live/hack where you live/know but MOSTLY: take a year and find the property manager asap;  that has always been my weak link.  I've been investing in great cash flow areas, often far from where I live, but have had to work so hard because of lousy pm's, and eventually have to sell and move to another market.  I no longer look anywhere until I've found the best pm possible.  And have even thought I had a great pm only to be disgusted by incompetence/greed etc etc etc.  I know they are out there, the good ones, because I had one once, and I was one once,but man you got to look hard.   good luck!

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