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Updated over 1 year ago, 07/11/2023
First steps for a newbie who wants to buy in cash
Hi. I’m Ken and have want to diversify my portfolio by adding real estate. I want to be a cash buyer. I’m particularly attracted to the financial characteristics of rental properties.
I’m looking for any advice I can get to start things off properly. What are the best places in the US or abroad? What licenses do I need? What are the best books for newbies?
Thanks in advance!
The first thing I would point you toward is not being a cash buyer (if you are looking fir your best return on your investment dollars.)
If you could by 1 - $100,000 house, or 4- 100,000 houses for the same money (ie. 25% down) and financed, when you run the numbers you will see you will make considerably more profit on the four. You would also be earning appreciation on 4 properties at the same time - which over time will return you way more money than the cash-flow.
All the best!
Randy
Welcome to BiggerPockets!
Best books for starting out:
1️⃣ Download this ultimate beginner’s guide: https://assets2.biggerpockets.com/uploads/user_file/file_object/1694/UBG_2018.pdf
2️⃣ Read BP beginner books on investing: https://store.biggerpockets.co...
Also, read Rich Dad, Poor Dad by Robert Kiyosaki and Think and Grow Rich by Napoleon Hill
I wish you all the best.
Hi Kenneth, the midwest markets offer a ton of potential to buy all cash and build a portfolio. I worked with a couple of turnkey companies to get started in the Cleveland market. If that is something you want to chat about, feel free to reach out.
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Quote from @Kenneth Hahn:
Hi. I’m Ken and have want to diversify my portfolio by adding real estate. I want to be a cash buyer. I’m particularly attracted to the financial characteristics of rental properties.
I’m looking for any advice I can get to start things off properly. What are the best places in the US or abroad? What licenses do I need? What are the best books for newbies?
Thanks in advance!
No license needed to buy properties my man. Hit up Ohio, it's made dope.
