All Forum Posts by: Enrique Vance

Unfortunately I'm not much of a risk taker when it comes to saving 12K and giving it to a hard money lender expecting to rehab a property and sold within 6 months especially as a newbie. I heard a very interesting podcast I believe they were interviewing a young woman named Anca, she mentioned buying distressed properties for about 40K fixing them up and renting them and refinancing them only to buy more, so basically she was flipping them to herself. She now owns 33 properties. I have equity in my home and thought this would be a good way to start out. Any thoughts? 

Hello, I live in the Tucson area and would like to start investing in real estate. I just bought a house for 106K and my loan officer said It was appraised at 120K (most of the like type homes in my neighborhood are selling for 140K) I would like to buy a second home or duplex to rent out, I make about 40K at my job so the bank will probably not loan me any money to invest. I thought about a hard money lender but I only have 3000.00 in savings and an 7000.00 in open credit through credit cards. Besides that, I'm a little hesitant as a newbie to be using hard money lending. Any suggestions as to how I should begin?