My start. Input needed

[Thomas Cooper]

Hi everyone, first off would like to introduce myself. Thomas, age 22. Currently own a pizza shop and a professional carpet cleaning company, both doing pretty well. I just recently paid my house off, valued around (200k). And would really like to start investing into real estate. I clean carpets for a few property managers and complexes and really think the direction of acquiring real estate is the direction I would like to take in life. I have done my fair share of reading but will continue to do so, and would like some insight in a good path, I'm very hands on, not afraid to take big risks as long as the prospective numbers seem legit. And have roughly 150k in equity and 70k cash give or take. My cousin has given me a mls search of all the multi family units within 20 miles and found a few prospects , and people with experience please chime in. And I know I posted some specific numbers, spammers don't waste your time. Thanks again everyone look forward to being apart of this community.

Thomas cooper

[Kelly N.]

Hi Thomas,

Sounds to me like you are looking at buying and holding multifamily property, which is where we just started. This site has a ton of info on how to figure out if an investment is worth it- do a search on the 50% rule and also look for properties currently rented out that meet the criteria (they have cashflow).

Keep in mind that the list price is just a starting point- depending on your market and the reason the seller is selling, you can get something much cheaper than list price- our first triplex was accepted at 66% of the asking price. The previous landlords were underwater and paying to own the property every month despite being fully rented!

Good luck to you, and keep asking questions, people on this site are very helpful!
Kelly