How Do I Begin?

[Dat Chung]

First and foremost, how do I begin? I'm 20 years old, work an hourly job, and have very little saved up. I was looking online, and getting a fourplex, renting out three of the spaces and living in one of them, and creating a positive cash flow sounds nice, but the question is.. how? How do I get started, and where do I begin? Do I need to get a license? If there is another thread that answers my questions, please feel free to include! Thank you for your time. :)

[John K.]

You will not need a realtor license to house hack. 

With little down you can look into an FHA loan which i believe requires 3.5% down payment instead of 20. So please look that up on BP or a quick google search will give you much more. You can also look up a 203k loan which is very similiar but includes any rennovations that may need to be done.

You also have to look into your finances. You say you are working an hourly job is it going to supprt this type of investment? You have to count for vacancy, maintenance, closing costs , and some other fees. 

I would start looking in the area using trulia, zillow or even talking to a realtor to get an idea of what is on the market, and what you are able to afford. Continue to use BP and learn as much as possible about becoming a landlord and the laws and regulations that follow specific for your area. As always develop a plan to execute and also an exit strategy.