another member is asking the same question so I will try and answer and then copy it and reply to the other one. first of all, wow, what a long answer this could be. I tried for a long time with decent credit, high debt to income ratio, and in a very hot market. I was unsuccessful. so my credit got better, my debt to income ratio got better, and I left a hot market for a not so hot market and picked up a partner and am going to close on 2 sfrs homes next week. Then in the hot market I am on my own buying land and having spec homes built on them for a pretty good profit. everybody starts differently and so will you . you need to find out what really interests you. I know the answer is money but you need to find the best way for you to make that money in rei. are you handy with remodeling or know people who are? you may want to buy low fix up and sell high. does property management sound good? then go buy and hold some properties. or do it all and have a diverse portfolio. I would suggest buying some kind of rei course if your not sure what your doing, and stay informed on this site for some good knowledge. start reading and investigating and then post some more specific questions about what you want to do. dont give up and good luck.
another member is asking the same question so I will try and answer and then copy it and reply to the other one. first of all, wow, what a long answer this could be. I tried for a long time with decent credit, high debt to income ratio, and in a very hot market. I was unsuccessful. so my credit got better, my debt to income ratio got better, and I left a hot market for a not so hot market and picked up a partner and am going to close on 2 sfrs homes next week. Then in the hot market I am on my own buying land and having spec homes built on them for a pretty good profit. everybody starts differently and so will you . you need to find out what really interests you. I know the answer is money but you need to find the best way for you to make that money in rei. are you handy with remodeling or know people who are? you may want to buy low fix up and sell high. does property management sound good? then go buy and hold some properties. or do it all and have a diverse portfolio. I would suggest buying some kind of rei course if your not sure what your doing, and stay informed on this site for some good knowledge. start reading and investigating and then post some more specific questions about what you want to do. dont give up and good luck.
pick an area that appeals to you and read, read, read. until you can't help yourself but to get started.......km