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Complete newbie and life long renter, wanting to start smart!?
Hello all,
WOW! Seems like I've stumbled into the right place here. The BP community seems full of great people.
I've been thinking about continuing to rent vs. buying for a long time. But only recently idea of investing! Buy and Hold with turn-keys sounds great but appearances can be deceiving and seems to require a lot of money to start in order to minimize risk.
I'm thinking that doing an owner occupied small multi-family could be a great way to start out?
But...
I've never bought a home before so I have no real idea the stresses and details to know about when buying a home for myself (but a gazillion people do it every day so it can't be that tough. LOL). Then combine that with all the factors of a good rental investment property???... I don't want to bite off way more than I can chew right off the bat!!!
I would love to hear some thoughts, ideas and advice from you guys on my train of thought if you were in my shoes? It will be very much appreciated...
And I'll give you some of my stats to give you a better idea of who I am:
Single (no wife, no kids)
$0 debt
$0 savings
Excellent credit