First Time Investor Strategy

[Cynthia Alexandra Sanchez]

Hi All,

I wanted to reach out to this amazing community for guidance on my first property.

What is stopping me from getting started and finding my first property is my indecisiveness in the strategy I want to utilize.

I live in CA and believe that I am going to have to invest out of state because I currently do not have the capital to invest in my own backyard.

In your opinion:

What would be a better strategy for my first deal? 

Should I utilize an FHA loan and purchase a multi-family home to rent out the other units or should I try and purchase an out of state home?

Also, if anyone has any suggestions on some side hustles one can do while working full time to raise capital that would be great too. 

Any advice would be greatly appreciated. Thanks!

[Zachary Leonardo]

If you are looking for a place to live and can house hack a multi-family deal, that would be a great way to get into an expensive market like LA.  Live there a few years with minimal expenses since your tenants will cover a lot of it and now you'll control a very valuable piece of RE with a relatively low out of pocket cost [3.5% down + closing costs]. Could also do this with a single family home by renting out bedrooms to roommates.
Good luck!