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Updated over 4 years ago on . Most recent reply

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100
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Misael Carlos Vera
  • Rental Property Investor
  • New York, NY
93
Votes |
100
Posts

First Investment Property

Misael Carlos Vera
  • Rental Property Investor
  • New York, NY
Posted

I'm a real estate investor looking for my first buy and hold property. I just graduated college and am working my full time job. I am aggressively saving to meet the 20-25% down + closing fees + rehab. All in all, I'm saving for at least 30k. But I'm seeing that it will take me over a year to reach that goal.

Is there any way I can expedite this saving process or even get my first property without much cash in? I know about subject 2 and seller financing but are there more ways?

Thank you everyone for the community support!

P.s. house hacking isn't an option bc I live in New York and a 3.5% down payment + closing costs is around 40k in New York. Furthermore, my job may relocate me within the year.

Most Popular Reply

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28,237
Posts
41,398
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
41,398
Votes |
28,237
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

If your future is uncertain, I would continue saving up and then invest once I knew where I was going to land.

  • Nathan Gesner
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