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Updated over 7 years ago,

User Stats

150
Posts
26
Votes
Faysal Alam
  • Real Estate Agent
  • New York City, NY
26
Votes |
150
Posts

New investor , need some guidance !

Faysal Alam
  • Real Estate Agent
  • New York City, NY
Posted
Hello BP community ! I'm 22 years old and I have 25k saved up, and it's not in the bank . Im hoping to buy my first rental property by the end of this year , but my question to you guys is where would you go to find a good deal (with only 25k) looking for somewhere local (tri-state) so I can self manage the property and it isn't 3000 miles away ! Also how would I go about actually putting in offer in with little to no income (160-200/week) . From what I hear it's hard to get a loan with very low income like mine . A lot of you will say for me to house hack , but unfortunately I have responsibilities and I have parents to take care off, so me going off to another state isn't possible for me . Not sure what areas to look in , but I'm am more than ready to take the leap ! so investors , what would you do if you were me ? Update : found 2 investors who's willing to invest 300-400k, this is short term and it's a cash investor not a hard money lender who basically wants a short term fix and flip and wants to pay everyone in the process , so how can I go about making the best deal possible ? Where do I look ? How would I go about actually making offers when it's a cash money investor waiting on me to find a deal any input,advise , help would be greatly appeciaged

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