House hacking / Beginner advice

[Jared Grubbs]

Hey, I am currently looking into investing in multifamily homes to live in one unit and rent the other unit(s) out. I currently have no down payment, but plan to save enough for a 3.5% down payment of my projected budget, closing costs, and any extra for maintenance/rehab in the next 12-18 months. I aim to learn as much as I can through books, podcasts, and networking groups. I am also 19 years old and live rent free with my parents. Does it seem like any of this is rushed or should I have that sense of urgency to get into the real estate market sooner rather than later with this home hacking strategy? Or rather is this a good time frame for a beginner real estate investor such as myself?

[Bryce Jamison]

I'm not concerned it's rushed or the timing. I've always believed the best time to invest in real estate is yesterday.

I'm concerned you may struggle to find a lender to give you a loan with only a few years of work history and it may be very challenging to find a property that cash flows with today's interest rates and only 3.5%% down. 

If you stick to your plan you'll 100% get a property in the next few years, even if it's not in 18 months. Keep saving up and making offers way lower than asking. You may be able to make extra money doing work for some of the folks you meet at the meetups.