Very new and building capital, next best steps?

[Thomas Crowe]

I am new to the investment property world and want to jump in. I have been following BP podcast for about 2 months now, I have read several of the recommended books but still need some guidance.

I own a primary residence right now that I recently purchased in the Knoxville area. I do not have enough equity to pull out any cash yet. I do have some capital to start investing with, but its not quite enough for 25% down payment + the recommended $10,000 - $25,000 cash reserves. My personal finances are looking good. I reduced my DTI ratio to below 20%, I have a healthy emergency fund, and I can save about $1,000 a month. What is the recommended way to grow the capital I do have right now until I have enough to purchase my first deal - besides continuing to save? I will get into local networking as soon as I can, and I have a investment property friendly agent already lined up. Just need to grow the capital!

I am really leaning towards long term rental properties, and possibly just assist in funding a flipper (as a silent partner maybe?)

Thank you for your advice in advance.

[Chris Davidson]

@Thomas Crowe Start checking with lender's may not need the 25% down. @Grant Schroeder w/ academy is a great lender and has a product I just used in Idaho that can be 10% on investment. And the Knoxville market you can still cashflow some lower down payment options. In the process of selling a duplex that would cashflow at 90LTV south of the river.

But as far as growing capital if you are in a pinch look at selling stuff you don't use, cutting the budget a bit more, and picking up a side gig for some extra cash.

Best of luck mate!