I suspect there's lots of inventory, particularly for new folks coming into the area that find the real estate prices are much better than where they came from.Do you have a type of house you like to target?

If you do decide to start flipping homes- as a new investor you can either self finance with all cash, or you can contact a commercial lender like myself and expect terms to be 75-80% of the purchase price with 100% of the rehab financed through a draw.

@Paul Cijunelis  thank you for this response Paul, well I firstly got interested in CRE when one of my high school teachers told me about how he does it and that kind of started my interest, I really love CRE because I've noticed it's a very lucrative and risky business like high risk high reward, but not just that I really love seeing a bunch of properties being brought back to life with renovations.

-Structural (foundation, wall, ceiling and floor)-Roof and Exterior(Roof Condition,Gutters and Downspouts, Siding, Windows and Doors)-Plumbing (Water Pressure,Leaks, Drainage, Pipes)-Electrical (Wiring,Outlets and Switches,Breaker Panel, Lighting Fixtures)-HVAC(Air Ducts, heating and cooling)-Water and Moisture Issues(Attic, Mold and Mildew)-Kitchen and Appliances-Bathrooms-Pest and Insect Problems-Safety Features

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

Purchase price: $85,000 Cash invested: $65,000 Sale price: $200,000 Contributors: Peter Vekselman Partner Driven and Seth Choate acquired a property on Highway 64 in Lewisburg, TN, for $85,000 on 07/22/2024.

I work for a flooring company as a designer and meet contractors and people who flip homes regularly so it has me flirting with the idea of doing it myself.My question is, how did you get your spouse to be on board with real estate investing?

Indeed, it's probably ideal to do the kinds of things my colleagues here and I have suggested before trying a $$$ seminar or mentorship of that price.

🚫 “This seems priced too high.