Next Step For Newbie?
Hey gang...thanks for taking the time to read this. I am an on-site real estate agent and have a pretty good grasp of the real estate in general. I am just getting started in REI. I have spent lots of money paying off old debt and have zero balances on everything. Zero debt. Car is paid for. I am in the process of disputing everything on my report, in hopes that some may fall off. I spend lots of time on www.creditboards.com, trying to pick up tips on getting my scores up. Good credit history for the past year. My scores are 510, 548 and 553. Income is good.
What is my next step with regard to REI? I really need to get started with no money down, as I spent most of my savings paying off debt. I am interested in possibly rehabbing (doing a HML) or possibly acquiring a rental unit, but getting the loan seems to be the challenge.
I have read RDPD and also Russ Whitney's Millionaire RE Mentor. Both have some great ideas, but get a bit vague at times. Any advice would be greatly appreciated!
Brian
Brian,
There's no perfect answer to your question, unfortunately. I recommend that most beginners start by bird dogging a few properties to other investors. It helps you find out what kinds of properties are doing well in your area and you start building a network of other people that can help you.
Hello Brian,
What area of REI are you looking to get into? I may be able to help you out. Email me and we'll go from there.
-Ray
Advice: Join a local REI club and request mentoring.
Eric & Rosa
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