OfflineI bought Dean's book about a month ago, I read it fully cover to cover and for the most part I understand it all.
Im 21 years old with good credit and a steady income.
Im saving about $1000 a month.
I just dont't know where to / best place to start.
because i do have the money to invest but then I wouldn't have any to keep saving. I've been looking at single family homes in my area. I wanted to buy a single family home and rent it out for the time being. Until the market goes up or until I could buy another one. I've been getting quotes from lenders and I have a list of properties to look at. but i think im a little heisitant to start because im not sure what the best avenue is for me to take.
Please post answers, feedback, insight.
Thank You.
honestly it sounds like you are going in the right direction. Single fam is where to be if you plan on renting for a few years, then selling.
Read through the site, there is alot of good info here. start here:
Start Here - FAQs http://www.deangraziosi.com/node/3355
D
Don't Wish the Past, Create the Future! - DH
What type of loan do you think would be best if that is the route im going to take. Would it be better to find a forclosure or just a house on the market with good wholesale. Because to me no matter what i buy, when the market goes back up that is already a profit.
Also what are some good stratagies for finding renters.
because that is one of my worries, that i buy a home and can't get anyone to rent and im stuck paying the mortgage.
Feed back pls.
With todays economy it shouldn't be hard at all to find renters. Post in the newspaper, craigslist, ect. Dean has a section in his book that talks about all this. Im pretty sure it is in the landlord section. Just market the house and they will come to you.
Shaun
Craigslist, backpage.com, put a sign up at the property. Put bandit signs up at each exit from the local walmart or busiest grocery store in the area. Use FREE ads before you spend money on running classified ads, they're costly and run for only a day or week. Put ads in smaller papers like the dandy dime, thrifty nickel, the shopper, etc. They're much cheaper.
Best of luck!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Another idea to get started is to buy a duplex live in one unit and rent out the other. Doing this you can qualify for a loan as a primary resident instead of an investment property, giving you a better interest rate, and also not needing as much money for a down payment. You will want to check rentals and what kind of demand there is for them, to make sure you don't have any problems renting the property. As metioned above the rent market is a good market so you should not have any issues renting your properties.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125