All Forum Posts by: MarieChele Porter

Rental cash flow spreadsheet, you can download something like this from google if you don't already have one. Just a great way to organize your thoughts and possible profit potential so you're not panicking so much! Take a deep breath it sounds like you made a good deal!

Thank you everyone for your replies definitely will be planning a trip for the near future to check out the single family homes! Does  anyone know a good state to start looking in to buy a multi-family home? I'm most likely going to start with a sfh because I do not plan on moving to qualify for a fha loan but would like to cover all my bases!

@Aaron B. Wow! Thanks that's great advice and I will take a deep breath !! :) I'm just excited because I've been wanting to do it for a while and I feel like I'm getting closer to being able to !! I have seen their books too and they have some right up my alley on renting and property management! I will also get on my research and plan a trip to Indy to learn more about the area! I'm also going to add you as a contact thank you for the offer! 

Hi everyone!

I am brand new to BiggerPockets and excited to be here it seems like everyone here seriously wants bigger pockets and are very knowledgeable! Now that that's over let's get to the good stuff!!!! 

I have been saving money for a little while and would like to invest in my first property for rent. At first I was thinking of starting off with a single family home, however after checking out some forums maybe multi-family (at least a duplex) is the way to go?... Here's the thing I have about 20k that I can comfortably use as a down payment and don't know where to begin looking for real estate. Well, actually I know that I can not afford here in California where I live, and have been checking out places in Indianapolis, Indiana. Indiana seems to have prices in the range that I can afford for single family homes, but I haven't even began the research for multi-family homes! 

As far as an FHA loan these can be used for purchase of investment property as long as I live on site in one of the units correct?

If anyone has advice on whether to go for the single-family vs. multi-family homes and what states and/or cities would be good to look in for a first investment property that would be greatly appreciated!!!!!

Thank you!