I am new but ready.

Starting Out
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I am new but ready.

Donna Yu
Member since 2024 · 5 posts · 11 votes

How much capital do you need to have to start and where did you find your first deal that is successful? Thank you. 

Ready to learn from all of you. :)

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Jonathan GreeneBusiness Member
Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
2y

What @Chris Seveney said. It's not an amount of actual cash because that changes depending on where you want to invest, but a percentage. Basically, 25% down plus 6 months in reserves and then another pot of money so you don't toss all of your savings into a new investment.

If you are planning on house hacking, you can cut the downpayment percentage way down.

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  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    2y
    Quote from @Donna Yu:
    Quote from @Patrick Drury:

    @Donna Yu
    I put around 12k down on my first rental which was a single-family rental rented out via section 8 here in Columbus OH. It depends on what location you are looking to invest in and what the strategy is


     How is it going for you so far? I’m trying to know more about Columbus, Ohio. 

    Hi Donna! Welcome to the BiggerPockets community! I am an investor and a real estate agent based in Columbus, Ohio. I started purchasing a small multifamily in Columbus two years ago. The cost of entry is low while the cash flow is high. Feel free to reach out should you need assistance! Best of luck!

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Donna Yu

    Real estate investing requires varying capital requirements, based on the area, type of place, and how you plan to make money. There are many ways to start, like House Hacking, Buy and Keep, BRRRR (Buy, Fix, Rent, Refi, Do it Again), and Flipping. To grab your first property, mix with local groups who invest in real estate, talk to property agents, use online sites, send out direct mail, scout for places by driving around, and get in touch with people who sell deals. To do well in investing in property, learn lots, start with something small, gather a team, dive deep into the numbers, and keep at it.

    Good luck!

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