Getting Started
I am new at this. If anyone can tell me how to start investing. My wife and I are looking to invest in real estate to eventually finance our retirement. We are both in our 50's and both work full time. The only thing we have to work with is our home. We spoke to a rep at our bank and was told that we could get an equity loan on our home and start there. The other problem is that our credit is not that great. Any suggestions? :-?
1. Read as much as you can here and check out the library. Then move on to buying books and/or courses. Education make a world of difference in RE investing.
2. Pull your credit. See what the issues are. Have the mistakes corrected. For the things that are correct but negative work up a plan for how you are going to improve the items. Time is your friend with credit scores so get started now.
3. You can start the process to set up a line of credit. Just leave the money there until you are more schooled in what you might be investing in. As the line of credit will likely be impacted by poor credit consider delaying if there is something negative that will go away in the short run.
4. There are ways to begin that do not take cash or credit. Having cash and credit provides more options but is not required. Subject To investing (sub-2) is one idea. Wholesaling and the subset, being a bird dog are other ways. Each has a forum here that you can read study.
5. Be interested in posting questions. Folks will reply.
John
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