Chattanooga, TN · Member since 2014 · 24 posts · 3 votes
Previously, me and my woman and kid were going to move into our own place. And I wanted to eventually flip it out and sell it or whatever. Well, we split after 5 years and now I am pretty much able to start fresh with the goals pertaining to me and my son(mainly me though since Im the one buying and such). So, Im 23, still in school. and dont make a ton of money. Maybe like 11 an hour. My credit isnt horrible so im not too worried about that. Im just stuck on where to start? People on my last post mentioned getting into multiplexes of sorts. Would that still be wise? I would presume so but not sure how to gain the capital for it. Thousands of dollars that I just dont have. So, what should one do? FYI, im still moving into the house my dad has for me but itsa given. I dont really want to consider that just yet since im on my own now. Thanks!!
Welcome to BP! Though you may feel you don't have a lot, you have access to tons of information and people willing to expound on your potential deals and help you with your start in real estate investing. I think that a multiplex is good, and if you go with one with four or less units, you could still get an FHA loan (I think, or maybe that applies to first time homebuyers??). If you are looking for an entry that requires low or no money down, you should definitely check out the book by Brandon Turner (The book on investing with low and no money down) and check out the forums and podcasts, as there is tons of information there. No matter what you decide, educate yourself using this site, as knowledge is the true power in real estate investing.