A few details: 80’ wide lot, newer furnace, metal roof, collapsed out-building on the property that needs to be removed, needs electrical panel replaced (which I can do, assuming local code allows me to), needs siding or paint.

I would suggest finding out what documents the lender is likely going to need from you after explaining your situation to the loan officer, then packaging it all up nice and organized and complete for the lender.

When you've narrowed down your top one or two markets (or top one or two turnkey teams if you go that way), consider visiting the area to shake some hands, look people in the eye, and take a look at their work (this goes for using the BRRRR method as well, as you'll need to build a team, agent, contractor, property manager etc, and it pays to go see them in action before pulling the trigger).Regardless of how you go about it or where you invest, you're going to need to do your homework.

This is a major risk that most commercial buyers seem clueless to.  Ned

wholesaling is not aka flipping. those are 2 different aspects of REI. also, even with perfect credit and stellar income a bank will not give you a 90% ltv on investment properties right now. you are going to need about 20-25% down (not including closing costs)i strongly suggest reading as much as possible on the site. start in the 'starting out' forum and then move into topics such as wholesaling. welcome to the forum and good luck!

With only $40K of your own money, I think you're going to need $60K or a bit more from another source.

I like to be there and follow him everywhere to get the filling on the amount of money is going to need.

You're going to need a 720 minimum fico and at least 6 months reserves on all other investment homes with mortgages.

Hi Marcus, Welcome to BP.Don't worry too much over the tones of some of these threads.

I am about to graduate from college and I am going to need some income from a job in order to get started real estate investing.Thanks again for your advice and time!