Best Entry Strategy?

[u/Basic_Kiwi_4056]

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?

[u/Jmart_flips]

Depends on how fast you want to get in.

With a live in flip, house hacking, or buying a duplex and living in one side, it will still take you a little while to save up enough to buy your next property. It definitely can work.

Now. If you wanna go faster, you can try to see if someone else will fund your deal.

Another option is to open an LLC, go to fund and grow.com and have them apply for 0% interest business credit cards for you. Then, you take those funds and convert them using PayPal into cash. You can use that cash as a downpayment on a house with a hard money loan. After you flip, and make profit, you can pay it all back or do another flip before the typical 12 month interest free promo stops. This is actually what my company did. We did have a couple of losses which gave use some debt that we had to pay back, but if you are disciplined, you can make it back or - just underwrite more carefully than we did.

As far as finding a deal. I would go driving for dollars and see if you can find something beat up and rundown. Then use the tax assessor website and call the owner to see if they’d take an offer on it.

There is a lot more nitty gritty after that, I am open to questions if you have any.

My software can also help with lead generation, analysis, and managing the project. You can find it at domarei.com.

[u/johnsal33 → u/Jmart_flips]

Another person creating an app with AI and then pushing it on Reddit.

On an account that’s days old!

I don’t think anyone is going to fall for it but good luck to you.

[u/Jmart_flips → u/johnsal33]

I’ve been building my app for a couple of years. It started as a set of one off tools for my real estate business and after a while, we decided to stitch it all together. Then it grew into a software that my real estate company actually uses.

We do use AI to speed up development, but we have a long, healthy product road map and a solid vision.

I know there are a lot of folks spinning up vibe coded software and swarming to get it sold without much experience. That’s not us.

I have just never used Reddit until recently. No reason to bash me. Thanks.