Low on cash, Alternative to house hacking?

Question

I have a wife and kids, who would not be OK with house hacking. I would love to start investing. A lot of the solid examples I have seen for starting out are house hacking. Does anyone have some alternatives?

Account Closed · Answer

I'm building a small rental cabin in  Carthage, NC (25k-+ range) and may be looking for partner/investor at some point. Just posting as an example of a lower end investment.

Dawn Brenengen · Answer

@Chris Nance Do you already own the home you are living in?

Matt Leonard · Answer

Not sure what is available in your area and/or price range, but maybe you could find a mutli-unit property that is multiple buildings on 1 lot or detached in some way.  That would allow you to still somewhat house hack while still getting an owner occupant financing.

Matt K. · Answer

Since you don't have the capital.... find a skill or way to add value to a deal with someone who has the capital.

Johann Jells · Answer

And if you're not going to owner occupy, you lose the low down payment options. Trading a lower quality of life now for a secure future via househacking is a choice not everyone makes. If it were easy, everyone would be doing it. That's why there's so many people coming here saying "how can a get started with no money?"

Antoine Martel · Answer

Chris.

The other option is to lower your monthly expenses, which would allow you to save. Which would allow you to create come cash flow with rental properties and get the ball rolling that way. You only need to save $10-15k to buy your first rental property.