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Updated over 5 years ago,
What is to best way to start my real estate journey?
Hello everyone, I would like to know what would you start investing, if you were me.
I only have around 35k in savings ( I moved to the US 4 years ago and I just put 33k to build my Spa).
I checked with the bank and I am only qualified to borrow 150k. A lot of my Clients pay for services and tip in cash so the number in my income tax is not high. The house in California is at least 400k.
I make around 5k a month, after expense, I can save 4k a month.
I am working with Fund & Grow. I have $16k in business credit card with 0% interest in 10 months and 18 months. But I am sure in the next two weeks, the amount will increase. I will keep updating the number. The money in the credit card can be sent by check to buy property. After 3 months, Fund and Grow will do another round to increase the number.
I am planning to buy turn key property out of state, gain more experience, increase my network and wait till the next recession to buy property in California. Please give me advice. Thank you for your time.