Hello Jason,
thats great that you want to take the first steps. couple things to consider and maybe post up here so you can get even more from this amazing community.
Where you want to buy your properties? Houston area is my early focus
what kind of properties are you looking for ? (condos, SFR, MF, etc) also are you looking for fixer uppers, turnkey? I can't really answer this accurately as i'm still learning all the ways to earn money. Originally it was just SFR, and it may still only be that. But, I am taking my time to explore all avenues to see if anything else jumps out at me. I like what i am reading about wholesale when starting out. I'm hoping to have a more clear direction after researching more and talking with many of you.
what are you looking for in your properties? (cash flow, appreciation, value add, etc) Cashflow. I love my job and am not really trying to quit but i would like to build up my cashflow.
how are you planning on finding them? wholesaler, MLS listing, doing your own marketing. I am still learning all the different ways so who knows at this point. I am a big believer in marketing so i will explore this for sure.
also one thing that i didn't pay much attention too was how are you going to acquire these? are you doing conventional loans, hard money, private money, cash? and that might help you consider how and which properties you can/should pick up. So initially i think it will be conventional loans. my own cash for down payment. Through out my career i have made relationships with many business owners who are now dear friends. They always tell me how they are sitting on piles of cash afraid to invest in stock market. They buy CDs and bonds with low returns. I would like to show some success in my first few properties and approach them to fund my next properties. Again i am very conservative so i don't plan on doing anything like that for a couple years while i get my education and experience.
cash = anything
HML/PML = just about anything as long as they agree with you
conventional = normally just MLS listings.
hope this helps
Thanks a lot. I am as new as it gets to this. So i don't know what i don't know. But this is the best i can answer with the info i have for now.
