Updated over 10 years ago on . Most recent reply
New to Investing
Hello everyone, I'm Ed Johnson from Baltimore. I'm a newbie investor, just beginning to get knowledgeable in this business. I'm about to retire from the federal government, at the end of this year, New Year's Eve as a matter of fact! I started a residential painting & home repair business back in 2003. Of course sitting at a desk does not allow someone to grow a business successfully, (at least for me). It is my desire to learn as much as I can about buying and holding, and rehabbing and selling. I do have about $65K in my 401K, but of course I want to use that money wisely. I welcome anyone and everyone who would like to share their wisdom on real estate investing. I have a purchase in mind that is in a low-income neighborhood, costing about $12,000. I'm thinking I could pay cash for it, then rent it for $600 - $700 monthly. Since I can do most of my own repairs, I'm thinking this would be a good first acquisition. Any thoughts?