While I’m not afraid to make an attempt at Real Estate Investing, but I don’t know when I’m financially ready to do so. My goal is to start house hacking, then hopefully being able to buy a rental property. Also how important is your earned income prior to investing?
I started house hacking fresh out of college with less than $5k. You're financially ready when you have a down payment saved up.
Carnell, you'll always have a certain "fear" or something to hold you back. I would say that in order to invest, you have to be financially prepared for things not to go "right" in the beginning. In other words, you shouldn't deplete your entire bank account to invest. You should have some additional capital set aside for when things go wrong.
Your earned income is important if you are trying to get conventional mortgages.