Quote from @Tim Ryan:
Quote from @Alicia Marks:
Welcome to our question of the week! This is based of a Facebook discussion about wanting to hear more average income earners accomplishing their real estate goals. If someone wants to get started in becoming a real estate investor, makes around $50k per year and has saved $10k, but doesn't want to househack, what would you recommend they do?
Let's hear those great ideas and life experience!
There are many investment properties they can buy with $10 across the country. My first advice would be to get the investment property now - before buying your own house! I believe the "American Dream" has been homeownership for many decades, but this should change to the American Dream owning Investment Property. I hired on a couple to manage one of my apartments, a 42-unit, in which the lived onsite. They told me they would stay a couple years and then buy a house to live in. I explained to them that should buy investment properties now and later those assets will help them get their own home. They bought two positive cash flow duplexes while living and working at my property part-time while having full-time jobs. Then eventually bought their own house. Backwards? Most would think so, not me. It's smart and doable. Think outside the box, don't follow the crowds. I am way more impressed with someone with multiple rentals and I couldn't care less if they own the house the live in.
I have just arrived at the same conclusion, and begun the soul searching process which has led me to Bradley Turner's books, and in turn to BiggerPockets. I have just agreed to stay on another year in my apartment, and I am now seeking an investment rental property.
You mention rental properties "across the country" for first time investors. How would you recommend a newbie like myself getting over the hurdle of learning about real estate investing for the very first time with a distance property? The distance makes it seem riskier.
