First Time Homebuyer

[Bianca Munoz]

Hi everyone,

I am looking for some guidance and advice on how to get started in real estate investing. I am 28 yrs old in HouTx. I am in a strong position to be able to invest, however I am still struggling to figure out what the best first step would be for me. 

Here’s my current situation:

• Credit score: 710

• Savings: $160k

• No debt

• Single, no dependents

• First Time Home Buyer

What would yall do in this position? Looking to build wealth and eventually retire through investing. 

[Bruce Lynn]

You are in great shape.

I think you have a few different options depending on what you want to do.

You could house hack...buy a 4bedroom 3bath house and live in one room and rent the others. That's typically your fastest way to cash flow. Do it again in a year or two. That requires the least amount of cash, but probably biggest ROI.

You could buy a small owner occupied single family, live in it a year or two and then rent it and do it again and again.   If you can rehab or have interest in that, you could also buy a fixer and rehab while you live there as an owner/occupant for even more profit.

You could also potentially buy a duplex and rent one side, live in the other.

Maybe other options as well depending on what you want to do.