First time investor - what next steps should I take

[Dayron Menendez]

Hey everyone,

I'm looking to get into real estate investing and would love some guidance on where to start. I'm interested in house hacking, buying a small apartment building, or even investing in a property out of state as a long-distance investor.

I live in South Florida, and when I analyze deals in my local market, most properties seem extremely expensive and don't appear to cash flow well—or they're simply out of my budget. Because of that, I'm trying to understand whether I should:

• Focus on house hacking as my first investment
• Save and go straight into buying a multifamily/apartment property
• Look at more affordable markets and become a long-distance investor

For those who have been in a similar situation, what were your first steps? How did you evaluate whether to invest locally versus out of state? If you've successfully house hacked or invested long distance, I'd love to hear what worked, what didn't, and what you wish you knew when starting out.

Any advice, resources, or lessons learned would be greatly appreciated. Thanks!

[Mohammed Rahman]

One framework I often share with my clients is that every property comes down to three things: property, price, and location.

For most first-time investors, price is usually the least flexible because it's tied to your budget and financing. That means you're often making tradeoffs with the other two.

You might buy a property in a great location that needs some work, or you might buy a property in excellent condition that's a little farther out than where you originally wanted to invest. The key is figuring out which compromises you're comfortable making.

In your situation, if your local market is pricing you out, the most practical adjustment is usually location. That doesn’t necessarily mean going fully remote, but expanding your search radius to nearby or more affordable submarkets can open up a lot more opportunities.

I’d still be cautious about going too far out of state for your first deal. There’s a real benefit to being able to drive to the property, understand the neighborhoods, and stay close to your team while you’re learning.

So I’d think of it as widening your local box rather than jumping into a completely different market. That middle ground tends to work well for a lot of first-time investors.

Good luck. Always happy to connect - my DMs are always open!