Introduction and seeking advise

[Charles Nyasha]

Hi Community,

I am a newbie here and am getting ready to embark on my real estate investing journey.I live in Phoenix,(East Valley) and have been reading and following some of the forums in the last two weeks and am learning new things everyday.

I am planning on focusing on investing in Omaha,NE looking at properties under 40K and am looking for a mentor or help in making sure I am getting good deals.

I have reached out to my investors in Omaha and have found some deals.

1There is  property  being sold for $29500, is turn key and already has a renter in it paying $610/ a month- comps running around 35k

Also have another offer for $33750 turnkey with a tenant paying $708 - comps running around 54K

1st Question is how do i determine what's a better deal?

2nd question My situation,

I have a score under 700 and already have a primary residence but was not able to pull equity out due to the fact that I had more than 45% debt to income ratio.

My question for you is what can someone in my situation do in terms of financing my first deal in my situation.

Any advice would be appreciated.

[Justin P.]

Hey, @Charles Nyasha.

Your first stop should be to check out the BP Book on Investing with No (and low) Money Down. Seriously.

Start by figuring out how much you can pay monthly in financing for these and still make a profit that is worth your time/effort. Once you have that number, open your mind to all the possibilities. Owner financing comes to mind.

Anywho - check out the book and start testing your options.