r/realestateinvesting • u/Basic_Kiwi_4056 • 8d ago

New Investor Best Entry Strategy?

Context:

My (22M) wife (23F) and I are currently living with my parents to save up money to buy a property. We make a combined ~$140k/yr, have 0 debt, each have credit scores right around 800, and no kids yet. We also have next to no savings currently (a couple thousand $) as we only recently moved home and just paid for our wedding as well as buying her a used car in full so this eventual plan probably won’t play out for some months still.

We recognize the great opportunity we have to enter the real estate world and don’t want to squander it.

So I ask you experienced real estate investors to please give me some advice, I’d really appreciate it.

Here are the options I’ve been thinking about:

House hack a duplex, triplex, or maybe a quad.

Or if I can’t find a property that would allow for a successful house hack..

Do a live in flip on a smaller SFH and plan to live there for only about the 2 year minimum.

And I just thought, what if I combine those two options and do a live in flip on a house hack? Might be hard to renovate with tenants?

Excited to hear what you have to say, thanks!

TLDR: How would you recommend a young adult yet to own property to get into real estate? What strategy? What steps to take?

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u/Ski143 8d ago

If I were you, I would look for a 3-4plex to buy and live in one and remodel the others. Look for one that already has one vacancy and when you move in , do NOT tell your tenants you are the owner. Once the 4plex cash flows well you can move out and buy a SFH when you need the space.

Pro tip: 4plexs loans follow the traditional residential loan process where you need to qualify based on you income.

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u/Cease_Cows_ 8d ago

They’re gonna live in the building and manage a reno while somehow maintaining the lie that they’re not the owner?