1st time Investment

[Keegan Mraz]

I'm very new to Real Estate and I wanted to ask what the best first time investment would be to start looking into? And how much approximately should I have saved up to do this? 

Currently I have invested into a franchise, and savings is low. But I have zero debt and have the ability to put some money away each month

All and any advice is appreciated! Thank you!

[Shea Murray]

Hey @Keegan Mraz - As many have mentioned - it's a complicated question with a lot of 'it depends' caveats. 

This would be my general advice; If it's your first time, buy a 3 bed, 1-2 bath single family home in the Chicago suburbs. The house shouldn't be a brand new renovation, but it also should not require a significant rehab. Looking for something that might need kitchen cabinets, a few bathroom vanities, maybe paint, maybe floors (something like this). 

Put a small amount of money down and live in the place while you work on the minor upgrade work. Once you're done with the work - move out and rent it and then do it again. 

**This advice isn't right for everyone, but it's a good way to lightly get in the door without a ton of money out of pocket. It also allows you to get a baseline understanding of lower level maintenance work**