New to Real Estate investing
I'm going to start this off by saying I have no idea where to start. Started getting into investing with stocks a few years ago and after reading several books, everything I keep seeing is to find a passive source of income and they usually mention real estate. I'm currently in book 2 of the Rich dad series and they have been great so far. I would love to get into rentals to begin generating some passive income for my family and eventually get out of the rat race.
A little about me to hopefully help point me in the right direction. I bought a car last year, I am currently renting. My total debt with student loans and credit cards is around $20k with a 630 credit score. As of now, I'm pretty much living paycheck to paycheck and that's where I would like to look into some forms of passive income. My savings account is roughly 5000. I don't really have the expendable income to make a large purchase right now, which makes it hard for me but I have seen so many times purchasing a rental property for $0 money down. Any Advice would be greatly appreciated.
Most Popular Reply
The days of Carlton Sheets and no money down are over for the most part; especially in this market. What you could do is start networking with local investors and possibly find older investors that you have formed a personal relationship with that might provide owner financing on their properties that requires a low down payment.