Hello All!
I am ready to start getting serious. BUT I have tons of questions and I don't want to put my family in financial jeopardy.
So I have some random questions hopefully I can get some answered:
1. I was originally looking at single family homes, but now I am thinking of nothing less than a 4-plex. Is that too much to take on as my VERY first property?
2. I see and hear from the podcasts for people to list deals on here to get feedback. Is anyone scared someone would just read and try to steal deals? I may be paranoid, but it would really help if I could list some properties without worrying about someone saying "thats a great deal!" then stealing it! HAHA
3. I have $10k in personal Cash that I have set away - but I do have $300k in equity in my home therefore I feel comfortable in taking out a HELOC of up to $150k to buy a property. $10k may seem like chump change but thats when I was looking at single family homes in the $30k-40k range. Basically I would like to know more about what they think the best option is. I can even refinance my home and take out $100k and it would only increase the payment $400 a month. etc. Basically... Where financially should I start?
4. I am looking in the Memphis area, I love in SoCal. Any other area's to look at?
5. Also - HOW DO YOU GO ABOUT BUILDING A TEAM - If Investing Out of State? Cold Calls? Use the realtor that is selling as my buyer agent? etc...
Thank you!
