Lately, many people have been asking me about how to start their real estate investment careers. They’ve heard about how, through investing, many have made it big in real estate, and they want to emulate that success.
To get started in real estate investing, you first need to buy a property—and live in it, if you’re a former renter. If you buy a property to use as your primary residence, you’ll get a favorable interest rate on a 30-year fixed loan. Many times, we can help you get a property with a 3% to 5% down payment. There are even programs with lower down payment options than that. Once you’re pre-approved at a good rate, then you can proceed to buy a property.
When you do make your first purchase, be sure that, sometime in the future, you’ll be able to rent the property in such a way that you can make more money than the mortgage, taxes, and insurance. Then over time, you can use the profits from that property to buy your next home.
If you need any help purchasing your first investment property, reach out to us. We’ll schedule you a consultation with an agent who is specifically trained in this area so that you can get started. Hope to hear from you soon.