Beginning my journey and could use some direction

[Michael O Sullivan]

Just starting out on my real estate journey. I want to get into multi family rentals, and want it to be long term. I don't have much money and am interested in hard money lenders. Do I find the property first and then find the lender? What legal obstacles are there for renting out properties? Do I have to register as a landlord? Can I live in a unit? I appreciate any help,

[Christopher Neeson]

In my personal opinion don't utilize an FHA loan. It is an option to get into a property with less money down but being that you live in a high cost area I would avoid it.

Find a 4 to 10 unit for under $100,000.  Make sure the property is completely rentable as is.  Updates down the road might be needed but you'll want a property that can rent or is currently rented.

Try to find smaller lenders that are willing to work with you on a 5 to 8 year balloon amortized at 30 years.  This will keep payments low and let you nest egg before the due date.

Private money is available but it's good to gain knowledge on your own first and gain experience and build your portfolio.

It could take 21 to 24 months to get your down payment saved up but it will be worth it. There is no rush in real estate, it's a longevity investment.

In the mean time I would suggest researching national markets searching for properties in your price points. Look for populations over 200k with a consistent renter base ( either college , military, or medical facilities ) that support at least 30,000 in the area near your search.

Read up on Bryan M Chavis, Larry B Loftus, Grant Cardone, Robert Kiyosaki, and others.

Podcasts are free!  They are also very informative ( Real wealth show, Biggs pockets, lifetime cashflow through real estate, investing in real estate )  lots of great information!