All Forum Posts by: Account Closed

Wow.

I appreciate all the feedback so far. Thanks everyone for taking the time out to offer your comments. A little more context - I have been lurking in the industry for about 4 years, probably spent $2k on books and research.. I am fairly familiar with the ins and outs of various deal types. What seems most appealing to me is BRRRR. Of course starting out I'd probably be in the range of a small $60k condo (lowest of the low in my market).

I also love the idea of getting a multi-unit with an FHA but the problem for me is I'm married with 3 kids and a dog.. Finding a multi-unit big enough for our lifestyle is extremely hard to come by. I've suggested this method to friends and relatives who are single or have small households. Due to FHA being only available if the loan holder is occupying the property.

I've been lurking and researching for years and now it's time for taking action. I know I need to get my foot in the door.

The tone that rings pretty clear in several of the above comments is to connect with others. This is the main thing I take away here. Its been true in my marketing career too, so I can totally relate. I'm going to make some calls. I think I need to also absorb myself more into the forums. My wife is in property management, so I think I also need to shake some hands over there.

End goal: Accumulate enough revenue-producing assets (i.e. rentals) that I could quit my job (if I wanted to).

What kind of deal is practical for me to get into? If I can come up with $10k in cash and have good income and credit? I am curious to hear from seasoned veterans if you were starting over, with this situation, where would you start? And given I have no connections (as I'm starting out) deals are going to be less easy to come by as you.. so where would you start looking for your first deal? 

Thanks to any and all for your 2 cents.

That's an amazing goal! Welcome. I'm new here too, hoping to begin my own real estate empire. Here's to taking action 🥂