A Good Place To Start With Little Resources?
Hello everyone,
I've been interested in REI for a few years, done a lot of research, now I'd like to jump in head first to see if I can swim... My only problem is my credit isn't great, I rent an apartment (no equity for a loan), and I don't have much cash. Does anyone have any advice for a motivated REI hopeful with little resources? Am I crazy for thinking I can get started in "buy & hold" REI under these circumstances? :-?
Thanks in advance!
-Dan
Dan,
I dont think your crazy, your just trying to get started. I believe your first concern should be finding the first property. Then you need to find a hard money lender or if you have a great deal in your hands you can attempt to assign your contract for quick cash. Now the details are up to you to find the resources to lead you.
Good luck
One thing I'd like to add... I'm elidgible for a VA loan, but as far as I know, the home has to be my primary residence for at least 12 months to use it.
Dan,
Another thing i learned in real estate is that the first place to start investing is in your own home first. Then you think of buying investments and when you are finacially stable you might consider to buy and hold.