Flipper/Rehabber · Little Elm, TX · Member since 2020 · 1 post · 0 votes
Hey I’ve been listening to BiggerPockets podcast for a week or so and it’s really expiring me to get started into real estate investing. But I’m just curious can I even get started with where I am at right now. All I have is $8,000 and I know that’s not a lot but is there a chance I could still get started in it?
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
5y
So 1st thing is to see if you can get a loan and for how much? I'm thinking a good start might be a 2bedroom Condo. Rent one bedroom for $500-$600 or more a month. That might cover much of your mortgage payment. You save what you would have paid for rent...and then do it again.
There are lenders that might lend up to 100% or help you with closing costs, so doable, depending on where you want to live.
Investor · Houston, TX · Member since 2020 · 70 posts · 44 votes
5y
Brandon, could you give everyone a little more detail about what you are trying to accomplish? You don't necessarily need a lot of capital to get started, but you do need a vision for what you'd like to do (asset class, niche, volume, locations, etc). Once we understand what you are looking to do, I am sure members of the BP community will be able to give you some great advice to point you in the right direction.