Newbie trying to make my first purchase

[Hunter Kelley]

Hello, I’m new to real estate investing and I’m looking to make my first purchase sometime at the beginning of the new year coming up. Im pretty self educated and have read loads of forums and books and watched hours of investing videos on YouTube. I first truly learned about real estate investing when I stumbled upon a Kris Krohn video and he buttered it up and make it sound real nice. I’ve always been kinda hard headed and done stuff my way but this is something I’m very serious about and want to learn. After reading Rich Dad Poor Dad it really made me want to get focused on assets in life I just need to get started. I’m a 23 year old with 2 kids and a newborn due in October and I work a 40hr a week job and rent a home I’ve only been working at my new job for a about a year so I don’t really have a lot of money to just up and use so I’m trying to gain as much knowledge as I can to minimize my chances of failure but I’m not afraid to take the leap and take risks. I just want to talk to people that have been doing this for years and really understand the markets to lead me in the right direction if I’m wrong about something or don’t understand something. I firmly believe that if I surround myself with successful people and associate myself with successful people it will benefit me and I’m willing to help anyway I can to repay the favor. Insight from professionals would be greatly beneficial and hopefully I can meet some business partners for the future. And help would be greatly appreciated. Thanks in advance!

[Tom S.]

@Hunter Kelley About the easiest way to get into the market is buy your own home to start. The FHA 3.5% down, 620 min credit score program is about the cheapest money you'll get for a fixed 30 year loan. Plus you rent already, so beyond the investment side, there's the peace of mind side of it.

Then consider owner occupying another home in a year or two, keep the original and turn into a rental.  Then repeat. Great way to get started and I've seen many people do it successfully.

Welcome to BP!

-Tom