Obviously after i research my area and find a property i like, what do you experienced investors advise to someone like me who is new at this, given my financial status.
I currently put the national market in a down cycle, from my perception that is, but my local market i would consider to be in an up cycle (half and half in an up/bottom).
Houses in my area go for anywhere between 300-500k+. I was thinking of maybe signing up for one of those foreclosure sites to get a listing in my area (unless there are free ones, but i dont know of any).
I have zero money in my bank, some debt (8-9k) in which i am paying off aggresively, but one good thing is i have excellent credit (730+ last time i checked). What would be my best option to finance?
Also, whats the best way to go about building a "team" as Dean suggests? For example, where can i get a mortgage broker and all those good people? The only person i have is an attorney. I know this is probably a complete stupid question, but it would be even more stupid not asking it.
I am going to go google some things to find some of these answers hopefully, but i figured i would start here.
Thanks everyone! I plan on buying my first investment property within a year and i dont foresee anything stopping me I just want to get this first one out of the way to gain the experience. Its rough, but that wont stop me! Any help would be greatly appreciated!