10k in the Bank, Job Offer, Next Steps?

Question

Seeking advice on next steps to get started. Any input helps! Not to make this post too long, but here are the logistics:

Graduating college in December of 25, just received a full time offer from my internship with start date in the summer of 26 in Dallas, 10k in savings, no student debt, and do not want to rent when I start.

Have done a few posts on here now asking for advice. In my last post I was asking/considering a condo as my first property. The HOA fees, small equity growth, and having someone be able to tell you what to do kind of turned me away from looking that direction.

After further diving in, I think a house hack makes the most sense for my scenario. I have a bunch of buddies from my college/old roommates moving to Dallas to start work in the same time frame.

My main question is what steps should I be taking right now to make it an achievable goal to own a house next summer? Do I need to talk to real estate agents, lenders, etc? As of currently, I have just been running analysis on houses in the DFW metroplex with an excel sheet I made becoming familiar with neighborhoods.

Lastly, shoot me straight, do you think buying a house with 10k in the bank is too thin to get started? That is really all I have to put into it. However, I do get a $5,000 bonus if I pass certifications before my start date next summer (pass CPA exams).

Thank you for taking the time to read this and anything helps,

Charlie

Nicholas L. · Answer

@Charlie Krzysiak

yes, you should house hack as soon as you can, but renting for a short period would not be the end of the world.

yes, 10K is probably not enough.

yes, talk to a lender first. they'll be able to guide you on what programs are available, how much you'll need to close, what you would need to get pre-approved, etc.

if you start with a house hack you're going to be ahead of the game in the long run, so it's OK to be patient for a year or two. you're thinking about everything the right way from what i can tell.

hope this helps.

Bruce Lynn · Answer

Well, you have several months from the time you graduate to the time you start work.

Make as much bank as you can in that period. Go make $50,000. Get 3-4 jobs, work 16hours a day, both days on the weekends. You hustle and grind. There is no reason you can't do this in College Station or wherever your home town is, or in Dallas. Rent the worst apartment you can stand, or another room in a house hack.

Have a loan officer pull your real estate credit score today. If you have anything negative, resolve that NOW. If your credit score is low, ask them how to improve it enough to get the best interest rate.

Honestly I don't think you really need to be "underwriting" right now other than to have a general idea about how much house you can afford based on your salary, down payment, and savings. I'd be doing more research on if your buddies or co-workers would rent from you and what their expectations are? Do they expect private bath, would they pay more for that, what are they willing to pay? Would they be interested in renting a room in a 5-6 bedroom house. While you are hustling and grinding to raise the $50,000 nest egg, ask all your co-workers the same thing. Ask them how far away they live, if they know others renting rooms, how much they are paying. Maybe if you can, move around every month to check out different operations.

You might also be checking out 1st time homebuyers programs, zero down programs and what the requirements are to do that. Normally you have to buy in more challenging neighborhoods, so are you willing to do that, and are your friends willing to do that. Lots of different programs around though, so they're all a little different.

Rob Lee · Answer

Hey @Charlie Krzysiak

Buying a home with $10K might not be quite enough, but you still have time! Look at affordable areas like Mesquite, Grand Prairie, or Cedar Hill and go for an FHA (3.5%) You need to know where exactly you will be working first.

Closing costs can run $5K-$10K, so negotiating seller concessions or using first-time homebuyer programs can help. House hacking is a great move if you buy a 3-4 bed home, rent out rooms ($800+ each), and cover most of your mortgage. I know a guy doing it right now here in DFW. He bought 2 homes eventually.

To get started, keep saving, talk to a lender to get some real numbers, find a realtor, :) and get pre-qualified about 3 mos before summer 2026. You should be good to go!

Tatum Littleton · Answer

Hey Charlie, I think I remember seeing your last post but it's good to see you posting again and seeing maybe you will house hack.

To answer your questions, if you can work at all and make and save any money, that's great and will help, even if it's just a bit. Let getting that bonus be some motivation to get more in your pocket before you purchase. It never hurts to talk to agents, lenders or anyone else in the real estate realm, getting their insights and opinions never hurts.

Keep analyzing different properties, you'll see (as you know) that Dallas is a large area and different prices in different areas, so see where you could potentially live and run numbers there. Be conservative and do it in different ways with different scenarios.

I couldn't answer exactly for if $10k is too thin, it depends on your finances but it could be possible depending on how you negotiate a deal. Using an FHA loan is your best bet but may need a little more leg work because of your lack of employment history, but is still possible.

And lastly, I would encourage you that if you house hack with friends, you have to be comfortable and ready to have tough conversations with them if the time comes. And don't let cash flow be the end all be all, if you have people living with you, your expenses and mortgage is significantly reduced that you pay and you'll be saving money, learning to be a landlord for the future, and building equity all at a young age!

That's my two cents, good luck and keep working toward that goal! You're starting at an age a lot of people wish they did, so good on you!

Henry Lazerow · Answer

Congrats on the first $10k saved! I have lots of first time buyer investor clients and always recommend a house hack (buy a 2-4 unit and live in 1 unit) but you need at least $40-50k I’d say to safely start even low down as need repair reserves, etc. Condo can also be a good option if only have $10k just make sure it does not have a rental cap, I have sold a few condos to investors who move out after 12 months, rent it out and then buy another. They can get you started with little risk/capital. I find condos with no elevator tend to have lowest HOA and cash flow best.

Diego Alvarado · Answer

Hi @Charlie Krzysiak

House hack is the best bet here. From today until January, there is a lot of time.

Ideally you have to focus on two aspects:

1. Savings (in 9 months increase those $10K in as much as you can)

2. Finances, you can talk with a lender or someone experienced in the matter related to qualifications. You have to look at your credit mainly.

FHA will give you the best for the money, but that will depend on the lender. You will have some tough time with what you are telling us, but there is always a way.

Rent for a short time would be another good strategy as well.

Charlie Krzysiak · Answer

^ Also forgot to mention I was planning on using FHA

10k in the Bank, Job Offer, Next Steps?

10k in the Bank, Job Offer, Next Steps?

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