Want to buy my first property and get started with REI
Hi BiggerPockets community, My wife and I recently moved to the Seattle area and need help strategizing on how to get started. We would ideally like to purchase our first home and do a full house hack and continue to purchase SFH using the brrrr method but can't seem to get past how to go about purchasing our first home. The properties in Seattle and near where I work, Redmond, are all around 500K-750k and too expensive to do a full cash buy or even a 50% hard money 50% cash deal. I have some savings but I don't want it to get tied into the house since our desire is to buy a second property using the brrrr method in 6 months. If we want to buy our first house we would have to do a 3.5% FHA loan for the property and rehab. But then where do we go from there? Since we did an FHA we wouldn't be able to do a cash out refinance like the brrrr method suggests. I am finding that the brrrr method works if you already have a house, AND have cash to buy your second property. But what if you don't have a house yet? What is the best way to get started so that I can be setup to buy my second property in 6 months? Thanks for the advice!