New Investor Ready to Rock

[Phil Clark]

Hellp BP People!

I am new to BP and live in Northern California. I have long known the power of investing and passive income (Rich Dad, Poor Dad changed my life!) and I am now ready to begin my investment journey. I have the Ultimate Beginners Guide printed and will be reading/studying this weekend (Happy Labor Day!)

My biggest unknown is the MONEY part, and to be honest it is daunting and terrifying, but I am GOING to move forward regardless. Should I buy locally? Is it better to find a less expensive market out of state and use a property manager? 

Have located a 4plex in Louisville, KY that initially looks like a money maker (rents are twice what mortgage would be less taxes, etc.) Price is $195K but I have NOTHING to invest. Where do I go next?

Anyway, I have a ton of questions and the more I read the more I have. If there are any BP folks that would be kind enough to help me better understand how to creatively finance a purchase I would be very grateful. 

Thank you in advance for all the help I can get from this amazing group of investors.

Phil Clark

[David Espinosa]

@Phil Clark When you come down in November try to make it to some of the local meetups. You can find some on here or at Meetup.com or Kreia.com. You can meet local Investors, Flippers, Lenders, GC's, Property Managers, Wholesalers, and Realtors. It will help build some rapport with locals to get some boots on the ground for Out of State investing.