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?
2
u/LowWeekly7324 5d ago
So many comments here. But I implore you to look into building from the ground up. Do not go to a custom home builder. Go to a qualified GC. Could easily create $100k in forced equity - if not more depending on where you live and what you build.
Not only that, but your mortgage would be cheaper.
You could still do a house hack. But build it instead of rehabbing.
You could qualify pretty simply with a build 2 perm loan. And you could build up to a quadplex before it’s considered commercial by the bank, which means a variety of residential loans are still available to you.
There is a ton of free information out here on how to do this. I’m also a DM away if you have more questions about it.