The book on rental property investing

[Meshael Eady]

Finally done reading. Time to take action.

[Meshael Eady]

Absolutely! 1st i will clear my credit card debt (3k) because i know it will come in handy. 2nd i will upgrade to BP PRO because analyzing deals by hand takes way too long and i will probably make a mistake (as i do now when practicing). Then I plan to partner up with a friend who is currently interested in doing so. She has the money and i have the knowledge and hustle. If she decides not to join me, well then i guess hard money it is. Since i am in Brooklyn NYC i am solely interested in short sales, bank owned properties and foreclosures because that is the only way to get something below market value around here without competing with billionaires. I will take advantage of the FHA loan aka "house hack". this is the best route for me because of my facilities management experience (13 years) My partner will put the down payment and ill borrow the money for repairs from a hard money or private lender. If it needs total gut renovation i will go for the 203k loan. I don't expect it will because Brooklyn is hot and everything is being sold and flipped to retail buyers, and most retail buyers just don't have the ability to do the numbers correctly and (i imagine) will loose their newly renovated property within a few years.