All Forum Posts by: Abigail Rodriguez

So I have this idea about starting a rental business. I have a guaranteed renter who gets section 8 and I could use them to get my portfolio started. I don't have the money right now to buy a property to fix and then rent but was told it's still possible. Where do I even begin? 

I recently wrote a post asking for advice on how to get started. It seems that if I want advice on something I have to ask a specific question. So I will try it that way. So I want to get into investing and yes I know this is not an easy process. Yes, I also know that this is not a quick way to get rich. I looking at this seriously. My goal is to really build a business with this. My reasons are not small and I willing to work hard at this! I'm expanding my knowledge as much as I can. 

I bought a house about 7 years ago and I do not plan to sell the property or rent it out. However, I was thinking about getting a HELCO to me start the journey of investing. 

Would it be a good idea to use a HELOC to do a flip or a Rental? What can I do to actually get started in this business?

Thank you for the advice! I am definitely thinking about it as in the long run. I want to create a business that generation after generation will stand strong! I’m ready to put the effort in, I’m willing to work hard. I just need to learn how to tackle this intelligently so I make fewer mistakes. I need to learn how to get and manage the finances and utilize them to get the best results! I definitely need to figure out exactly what I would need to begin this process. That’s why I thought about getting a mentor because “you don’t know, what you don’t know”!  I want to learn annd will try my best to learn all that I can! So I can start on the right foot and not take uneducated risk. 

 I’m not sure I can house hack. I already bought a home. I’m thinking maybe flips at first then holds so I can create rentals. But with the lack of funds and a team what can I really do? And if I were to look for investors or get a bunch of loans I need to know how to run the numbers. And where can I learn that? I watch YouTube videos and such but I don’t know what I’m supposed to be looking for so watching them doesn’t really help out. This business also plays a lot in the “who you know business” finding a mentor would be a first step that much I know. It’s best to learn from someone who has experience and suggest things that you shouldn’t do. 

Hello all! My name is Abby and Im very new to investing. I know little to nothing and I do not have a sphere. I decided to get my real estate license thinking that would teach me what I needed to know. Although it may help in the long run I know there’s a lot more to learn. Im stuck and don’t know where to begin. I don’t know what I can offer but I would very much like to get to connected with this community of investors. I’m so ready to learn!