FTHB looking to start in REI (Good Starting Point) - Posted by Mark
Posted by Mark on September 21, 2004 at 05:57:04:
I am a First Time Home Buyer looking to get started into the RE game. I am not afraid to get started but rather confused as to where to begin. I have limited funds to put down on a home, about $20K and not sure which area to start in.
1.) Buying & Renting
Even though it is still a seller’s market in my area the homes are not turning over as they were a couple months ago. So right now I am just looking at homes in the paper and driving around looking for RE signs. Unfortunately, in option 1 all the homes I have seen represent a negative cashflow on a monthly basis, requiring me to dip into my own pocket to help pay off the mortgage and this is without me even living in the house.
What I am asking is for a Good starting point considering my position of low fundage. Once I gather some more funds, either Equity or cash, I figure there will be more options open to me.
Any input would be greatly appreciate and reciprocated.