I know nothing - investing in rentals with cash?

[Michael Cheng]

Hi!

I literally stumbled upon the BiggerPockets YouTube channel today and am interested in learning more. Currently pretty much all my money is invested in the stock market.

1. If I'm able to buy a home to rent out with cash, how important is it to find a great deal? If I just bought a home that's reasonably priced, maybe with something like "needs TLC" in the description, could that be profitable as a rental home, with the idea that homes typically appreciate, and I wouldn't have a mortgage? I don't know how to find great deals, and I have a full time job and family that limits the amount of time I have to do rehab.

2. If #1 is a possible thing to try, any suggestions on how a strategy like this would be scalable? I heard something about taking out a loan against the value of a home appraisal and using that to purchase more properties?

Again, COMPLETE newbie here. This is literally day #1 of me even learning about anything related to real estate investing.

Thanks :).

[Ben McMahon]

Michael,

You have really come to the right place for this.  Bigger Pockets has the answer to every question you could ever dream up.  I have been investing in real estate since 2009 and I still use it to fill in the gaps of my understanding.  There are a lot of ways to do it, and it's worth spending a little time on learning especially since it's a huge investment. 

I have 2 thoughts for you since you are starting from scratch.

1) find someone you trust that is currently doing what you want to do and flush it out with them.  

2)You should know pretty quick whether real estate is your flavor or it isn't.  IF not, don't waste any time and find another road to riches.  If it is your flavor, don't waste any time and get after it!!!  It's a fun ride.