We have thought about being involved in real estate investing and have finally, and seriously, made the decision to educate ourselves and then take the first step.At our level of experience, or inexperience :-), our first order of business is to find a real estate broker who can assist us in finding our first property.

@Aaron McGinnis , if I were going to make an excuse, I'd actually go for inexperience, since this if my first flip ;-) Lol, I'm actually going to go for me being a jacka** though, instead :-) The worst part is that looking back at every...single...step, I ask myself "seriously, did I miss that?"

Kevin, This is where my inexperience is going to show....Is there a difference between cashout refi and term and rate?

But I am holding back due to my inexperience.

From inexperience somewhere in the process you will lose the deal and have nothing.Then you will be broke and the wife will REALLY be on you.Trust me.This is my opinion on what I would do in your situation.The convention isn't a hard sell for more products.it is other investors networking and sharing knowledge to help each other be financially independant and reach our goals.

Additionally, I like to see people fully prepared before they make a poor investment out of inexperience and a lack of basic investing principles.

Another thing sellers may see when they hear FHA is first time home buyer IE. more chance deal may fall through due to inexperience, cold feet, ETC.In this market sellers are probably willing to take a lower more definite offer IE all cash or 25 - 30% DP VS a FHA with 3-5% down and have to worry about FHA inspection and appraisal.NOT to discourage you in anyway shape or Form.

So don't let your inexperience stand in the way or you'll remain inexperienced forever.

Luckily I got the house really cheap because it is helping me pay for my newbie lessons from inexperience.

Again, I'm WILDLY inexperience.