New Investor + No XP = Hesitance!

[Jehu Matthews]

Hi Everyone, this is my first post on the BP forums but I’ve been an advid real estate and financial bookworm the past year and a half. I’ve read a plethora of books by T. Harv Eker, Robert Kiyosaki, Napoleon Hill, Brandon Turner, and David Greene.

As with most people my goal is to retire young but I would like to build my portfolio with mostly long term multi family rentals. I plan to start small with single family but if I see an opportunity to acquire a Multi that cash flows I’ll gladly take advantage! 

I bank with a credit union so I have access to a lot of good loan options with lower interest including a few 0 down loans but my biggest fear in real estate investing is, after I secure a property and secure a tenant, what next? I’m very afraid to take my first steps with the limited info and partnerships I have but would love to do a deal with someone who is experienced!

I don’t want to fall victim to analysis paralysis! I know that using Debt as leverage would be the best start to my real estate investing career, but I’m incredibly scared to start because knowledge and experience are the only thing that can make a good deal worth its weight! And lack of knowledge could turn a great deal to a poor one. 

thanks in advance for your responses!

PS: I stay in Concord Area closer to Mount pleasant

[Kai Kopsch]

@Jehu Matthews welcome to BP; you found the right place to start on your real estate investment carrier! $O down loans are for your residence SFH or duplex triplex; nearly all other investment properties require 20% down. The greater Charlotte Metro is a great market, and you have no problems finding a qualified tenant; most important is to find your team, Lender, Realtor inspector contractors, and property manager. Your first few deals are more like a learning curve than a home run. The most important is to do a deal don't lose money; take your experience and the team you build in the first deal and do the second, and so on. In Germany, we have a saying: Lehrjahre sind keine Herrenjahre. We've all got to start small