All Forum Posts by: Ryan Zielinski

I'm posting to see what everyone's thoughts are on getting that first deal done. I currently own a single family home, which I purchased almost 4 years ago. At the time of purchase, I was on the hunt for a duplex or triplex but was continually outbid with stronger offers. This house has been great to my family, but unfortunately hasn't brought the passive income value I was originally looking for. 

Buying an investment property now has it's challenges because of the 20% or even 25% down payment that is required. I've inquired on a Home Equity Loan on my single family residence, for that initial down payment. I'm sure there are plenty of experienced investors that have started out this way. How was your experience if you started out like that? 

Is there a suggestion of whether you'd do it again, or if you would look for an alternative route? 

Any advice would be appreciated!

Thanks,

Ryan

Everyone needs to get started someone, right? My plan for years has always to buy a property that not only helps pays the bills, but also will provide some extra income in the future. It's a simple goal and something I think most people have the idea of when they are getting started. I've been looking for this "perfect" property for about 9-10 months now and I'm getting extremely anxious at this point. When I go to make a deal, I've been out bid (even with my offers, I was stretching because of the low inventory in my area!) or not even allowed a showing because it's such a competitive market. It appears everyone has a similar plan as me! 

As frustrating as it is, I know that I do want to have a property that provides some type of income. Because of the competitive market, I'm curious if anyone has had similar issues? I've even thought about the idea of buying a lower value home and do a live-in flip. I have to take the plunge somehow! So from your opinion, is it best to wait? Or do you think, just take that initial plunge for the live-in flip and don't look back?