First Deal - Home/Rental

[Ryan Zielinski]

Everyone needs to get started someone, right? My plan for years has always to buy a property that not only helps pays the bills, but also will provide some extra income in the future. It's a simple goal and something I think most people have the idea of when they are getting started. I've been looking for this "perfect" property for about 9-10 months now and I'm getting extremely anxious at this point. When I go to make a deal, I've been out bid (even with my offers, I was stretching because of the low inventory in my area!) or not even allowed a showing because it's such a competitive market. It appears everyone has a similar plan as me! 

As frustrating as it is, I know that I do want to have a property that provides some type of income. Because of the competitive market, I'm curious if anyone has had similar issues? I've even thought about the idea of buying a lower value home and do a live-in flip. I have to take the plunge somehow! So from your opinion, is it best to wait? Or do you think, just take that initial plunge for the live-in flip and don't look back?