I know that most people say you don't need a lot of money to start up investing in real estate. But I am curious to hear about how much folks saved and why that amount, before investing in their first property.
My first deal happened with the help of my partners. It was a small SFH, we paid 37k cash. Being a college student, I could only put down 7k of it (15%). The lessons and skills I learned from the first property though, were invaluable. The cashflow is a nice bonus too.
I didn't have much cash when I bought my first deal <$5,000 but I borrowed some money from my 401k.
I don't think you need to have a lot of money to invest but you have to have smart money habits - investing in retirement & tax advantaged accounts, budgeting, etc.
With those skills you'll find a way to get into your first property without having 20% saved for the down payment.
Best of luck!
One of the best idea I have come across is house hacking where you purchase the home and live in it for one year before renting it out or selling it. This is how I purchased my first property.