Newbie eager to begin. Tips? How much money do I need to begin?

3 Replies

@Jonathan Burgos , welcome to BP. I am a fellow newbie so take my advice with that in mind. I think a small multi family that you can house hack while living for free might be your best bet and also getting your personal finances in tip top shape are key. Also I would say learn as much as you can, watch as many podcasts, utilize the forums and network like crazy. I`m sure you will be fine. 

I would say you always need reserve first, then when you have ample savings it would be a safe time to invest.  Usually $20K will get you into a decent investment in the midwest, and still leave you some reserves.  Hardest part is always getting started.  Good luck!

I agree with @Riley Schaefer in that having reserves is extremely important and is the lifeblood of real estate investing and investing in general. Also remember the golden rule of investing is not to lose the capital you invest and then let your capital make a return for you.