Blog Post

How much money do I need to get started?

November 3, 2016

Don’t you wish there was a button that you could just press to get started? Would you believe me if I told you we have one? In fact, here’s the button, just click on it, read about our Realtor Chloe, and then give her a call! That’s the first step, and I promise it’ll be easy to go from there!

Get Started

If you’re not clicking on the button just yet but want to learn more about what it takes, I’m going to try and lay out more of the roadmap for you. One of the main questions I get asked by those that have the desire to get started investing in Real Estate, is how much money do they need to buy their first property. This is an excellent question and probably one of the most important! The answer to this question really depends on where you are in life such as where you live now, whether you currently rent or own, and if you have a desire to move residences or not.

Where you live matters quite a bit since a house in Long Beach, California will cost you roughly six times the amount that same house will cost you in Rising Sun, Indiana! But if you live in Rising Sun, then this is great news for you! It means you will probably need six times less money to get started down your Real Estate Investing career! For the context of this article, I’m going to speak as though you live in Long Beach, Ca since its where Beach Cities Management resides.

Another assumption I’m going to make with this is that you currently rent and will be a first time buyer. This just helps give everyone a starting platform and we can jump off from there! So you’re paying rent and being an excellent tenant in all ways for another landlord. That’s great! (For that landlord 🙂 But consider this: What if you were your landlord from now on? I bet you’ll be your best tenant and always pay your rent on-time and take good care of your own place, right? So that would be step number two: Buy an affordable residence that you can live in and the monthly costs are close to what you currently pay in rent!

Notice I didn’t say to buy your dream house! This purchase is a stepping stone and the goals is to replace your current rental. In fact, the best advise I can give you on this is to let your Realtor Chloe pick out her top 3 choices for you based on the wants and needs list she’ll ask of you, and to choose from these three which one will be best for you! We want to keep this process simple, so having an experienced Realtor that works closely with investors and specializes on buying and selling investment properties, it’ll guarantee you it’ll make your first purchase a great property to convert into a rental down the road!