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Updated about 9 years ago, 11/19/2015
If you were in my shoes - First Property
Hello BP! Looking for some advice :)
I've been learning my new market, driving neighborhoods, scouring listings and keeping my eye on old listings/foreclosures etc. Currently I own no properties and ideally would love for my first action to be a successful flip to get jump started with some experience.
If you were me, a 23 year old with good credit, average job, approx $10k for a down payment, and no collateral...what would be your goal for deal #1?
I've considered the idea of a live-in-flip or at least getting a renovation loan of some sort and selling down the road.
Fear arises in me when I think of private or HML and have no idea if they would even lend to someone of my experience.
I'd love to take a step and make offers, I just have no idea how I should go about it with the financing.
Sorry for the long post...but what's your take BP, what would you do?