Feeling Stuck Making Progress
Hi everyone,
I’m new to real estate investing and have been researching for a few months. I currently live in Los Angels but I’ll be moving to Portland, OR at the end of the year due to family reasons.
I was hoping to take this moving opportunity to purchase my first property to house hack, but since I don’t have any savings for a downpayment and the market near/around Portland is upwards of $300k it’s been extremely difficult finding conventional financing for a first timer with an average/low annual salary (though I know not impossible). I’ve started talking with a real estate agent and a lender but I’m not feeling super optimistic.
So I’d love your feedback! Am I trying to rush this process? I think I’m feeling like I have to make it happen now or I’m never going to do it, but maybe that’s the wrong way to go about this? Would it be bad if I had to rent a place for me to live for a few month first?
I've been reading Brandon's "REI with No and Low Money Down" book as well as the "How to Invest In Real Estate" book so I know it's possible to succeed...I think maybe my mind is just messing with me?
What other steps can I be taking to push forward on landing a great deal in Oregon with no money (but great credit at 800)?
I appreciate you all!