Rookie here! Just getting started...

[James Hamilton]

Hi all, what a fantastic community of folks here in Bigger Pockets! I am about a month in to researching real estate investing and have set a goal to purchase my first rental property by June 2023 (but hopefully much sooner!). So I guess my main hurdle now is establishing enough capital to get started. Those of you that were short on equity or cash on hand, how did you finance your first property? I'm leaning house hacking to get a lower down payment, but that may not be an option for me. Just curious to hear how some of you got the ball rolling...

Thanks everyone! and enjoy your weekend!

[Nathan Gesner]

Quote from @Nathan Gesner:

Welcome to the BiggerPockets forums!

House hacking is a good option because there's a low entry fee, it gives you a place to live, and you can build experience faster by managing multiple units while living on the property.

Another option is Owner financing. It's a more advanced option that requires some learning, and the deals are harder to find.

I retired after 21 years as a JTAC, 2008. Thanks for your service.

VA loan is a perfect option for you. Just be careful because you will be buying with 100% financing in a peak market. There's a very, very good chance the property could lose value over the next few years and maybe take 5+ years to catch back up. Make sure you're buying something you are willing to hold onto for a while.