Wanting to begin my real estate investing journey

Oklahoma City, Oklahoma
General Real Estate Investing
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Wanting to begin my real estate investing journey

Koty Frank
Member since 2025 · 6 posts · 6 votes

I've been wanting to start investing in real estate to build wealth and earn some extra cash flow. I've read books, done research, and even started looking at/underwriting some properties I'm interested in (with little success). I'm mainly interested with single-family or small multi units for the time being, but my long term goal is to get into large multifamily properties as well as commercial investing.

My wife and I already live in a house that we own, with family support with the payment as we get jobs after having to move. I'm not exactly sure where to begin, but I know I want to work on acquiring my first property. One idea I had is this: my wife and I were looking at moving into a cheaper home that would be more within our budget and selling our current house. However, I suggested we lease-to-own our current home or potentially even rent it out if we could get tenants and the right rent where we wouldn't just be bleeding cash flow. My problem with either situation is that we were going to rollover the funds we got from selling the house into the down payment for the new house. If we were to keep our current house and rent/lease it out, then we would need to come up with cash for the down payment on the new home which we don't quite have on hand.

I would love to hear anybody's advice on getting started generally and the best route to take for my idea!

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Travis TimmonsPro Member
Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
1y

You just don't have enough money yet. That's okay...the hardest part is getting the plane in the air. We have all been there. I'd focus your efforts on finding a well paying job that you do not hate and getting your expenses down. If you need help making the monthly payment on your current house (assuming that there is not an increase in income around the corner), you need to sell the house and move into something cheaper and/or smaller. 

Owner occupied strategies are hands down the best way to get started. My wife and I started with a live in flip (we're currently on our 3rd one). It's an inconvenient but great way to get an influx of tax free cash. It's also lower risk. 

I love your long term ambition, but you need to focus on the task that is directly in front of you. I'll make the bad sports analogy - just go win the next game. It's brick by brick.

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  • Al Bazzy
    Real Estate Agent · Livonia, MI · Member since 2016 · 32 posts · 10 votes
    1y

    Hi Koty, have you thought about investing in Turnkey? Buying turnkey properties can be a great way for someone new to real estate investing to get started.
    With less day-to-day stress, new investors can focus on learning the business, understanding cash flow, market trends, and return metrics.

    Most turnkey providers include built-in property management, so the investor doesn’t need to handle tenant calls, maintenance requests, or rent collection. 

    Many turnkey properties are located in affordable, high-yield markets (like Detroit, Cleveland, or Memphis)

    Please let me know if I can be of any help.

    0Reply
    • Koty Frank
      OP
      Member since 2025 · 6 posts · 6 votes
      1y

      @Al Bazzy no I have not thought about that! Where would I go to look for these kinds of properties?

      1Reply
  • Travis TimmonsPro Member
    Rental Property Investor · Ellsworth, ME · Member since 2021 · 1k+ posts · 2k+ votes
    1y

    You just don't have enough money yet. That's okay...the hardest part is getting the plane in the air. We have all been there. I'd focus your efforts on finding a well paying job that you do not hate and getting your expenses down. If you need help making the monthly payment on your current house (assuming that there is not an increase in income around the corner), you need to sell the house and move into something cheaper and/or smaller. 

    Owner occupied strategies are hands down the best way to get started. My wife and I started with a live in flip (we're currently on our 3rd one). It's an inconvenient but great way to get an influx of tax free cash. It's also lower risk. 

    I love your long term ambition, but you need to focus on the task that is directly in front of you. I'll make the bad sports analogy - just go win the next game. It's brick by brick.

    2Reply
  • Kerlous TadresBusiness Member
    Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
    1y

    Hey @Koty Frank, I've seen a lot of new investors in your exact spot, and honestly, you're thinking about it the right way. If selling gives you enough cash to grab a strong, cash-flowing deal and build momentum, that's often the cleaner move. But if your current home could rent close to break-even, keeping it might be a solid first rental, especially if it's in a good area with long-term upside. You could always tap into equity later with a refi or HELOC.

    [email protected]614-490-1163
    Kerlous Tadres | Reafco Real Estate542 Reviews
    WebsiteView Page
    0Reply
    • Koty Frank
      OP
      Member since 2025 · 6 posts · 6 votes
      1y

      @Kerlous Tadres if we were to sell the house then it wouldn't be rolling into a rental property, but into a home for my family and I. I don't think I would be able to rent my current home for enough to cover the mortgage that we have as it is pretty high. That's kind of my dilemma. Any advice?

      1Reply
  • William ThompsonBusiness Member
    Accountant · Williamstown, NJ · Member since 2025 · 342 posts · 182 votes
    1y
    Quote from @Koty Frank:

    I've been wanting to start investing in real estate to build wealth and earn some extra cash flow. I've read books, done research, and even started looking at/underwriting some properties I'm interested in (with little success). I'm mainly interested with single-family or small multi units for the time being, but my long term goal is to get into large multifamily properties as well as commercial investing.

    My wife and I already live in a house that we own, with family support with the payment as we get jobs after having to move. I'm not exactly sure where to begin, but I know I want to work on acquiring my first property. One idea I had is this: my wife and I were looking at moving into a cheaper home that would be more within our budget and selling our current house. However, I suggested we lease-to-own our current home or potentially even rent it out if we could get tenants and the right rent where we wouldn't just be bleeding cash flow. My problem with either situation is that we were going to rollover the funds we got from selling the house into the down payment for the new house. If we were to keep our current house and rent/lease it out, then we would need to come up with cash for the down payment on the new home which we don't quite have on hand.

    I would love to hear anybody's advice on getting started generally and the best route to take for my idea!


    Hey Koty, sounds like you’re off to a solid start — you’re already thinking strategically about cash flow, equity, and long-term growth, which is exactly how great investors begin.

    Keeping your current home as a rental can be smart if the numbers make sense. You might look into a HELOC or cash-out refi to access equity for the next down payment without selling. It’s all about balancing liquidity with long-term wealth.

    I work with investors all the time who are in this exact stage — happy to share a few quick pointers on structuring that first deal if you’d like. Are you focusing on local properties or open to out-of-state too?

    [email protected]609-820-0891
    RE Accounting and Tax Professionals LLC521 Reviews
    WebsiteView Page
    0Reply
    • Koty Frank
      OP
      Member since 2025 · 6 posts · 6 votes
      1y

      @William Thompson I've been trying to focus on local properties just so they're within reach and not to overload myself, but I'm extremely interested in out of state as well because I understand there are better markets than where I reside. I'm always open to pointers!

      0Reply
  • Elealeh Fulmaran
    Specialist · Member since 2025 · 483 posts · 270 votes
    1y

    You've got two clean paths. If the current home can rent at or above an all‑in payment with a small reserve, keep it and move to a cheaper primary using low‑down financing, then stack cash for the next buy; if it won't cover, sell it, boost your down payment, and buy a simpler, rent‑ready SFR/duplex in a C to B area so you get a quick win. Run a quick test today: conservative rent range from two PMs, true monthly costs, and what that equity would earn in your next deal; pick the route that gets you into a cash‑flowing first property fastest with two exits.

    0Reply
  • Ethan Rolnick
    New to Real Estate · Atlanta, GA · Member since 2025 · 64 posts · 20 votes
    1y

    @Koty Frank do you have LinkedIn? I would love to connect, as I am also new to REI and want to make some money on the side.

    0Reply
  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    1y
    Quote from @Koty Frank:

    I've been wanting to start investing in real estate to build wealth and earn some extra cash flow. I've read books, done research, and even started looking at/underwriting some properties I'm interested in (with little success). I'm mainly interested with single-family or small multi units for the time being, but my long term goal is to get into large multifamily properties as well as commercial investing.

    My wife and I already live in a house that we own, with family support with the payment as we get jobs after having to move. I'm not exactly sure where to begin, but I know I want to work on acquiring my first property. One idea I had is this: my wife and I were looking at moving into a cheaper home that would be more within our budget and selling our current house. However, I suggested we lease-to-own our current home or potentially even rent it out if we could get tenants and the right rent where we wouldn't just be bleeding cash flow. My problem with either situation is that we were going to rollover the funds we got from selling the house into the down payment for the new house. If we were to keep our current house and rent/lease it out, then we would need to come up with cash for the down payment on the new home which we don't quite have on hand.

    I would love to hear anybody's advice on getting started generally and the best route to take for my idea!

    Hey Koty, welcome to BiggerPockets! It sounds like you’re thinking through things really strategically, which is the best place to start. Your idea of renting out your current home could be a great way to get your first investment property under your belt, especially if you can get close to breaking even or slightly positive cash flow. If pulling out equity for a down payment on the next house isn’t possible right now, you might consider saving up aggressively or looking into creative financing options like seller financing or house hacking on the next place. 

    [email protected]614-300-7535
    Jimmy Lieu, Red 1 Realty4.9122 Reviews
    WebsiteView Page
    1Reply
  • Nicholas L.Pro Member
    Flipper/Rehabber · Pittsburgh · Member since 2018 · 6k+ posts · 5k+ votes
    1y

    @Koty Frank

    I know this isn't what you want to hear, but just to echo what @Travis Timmons said - you're not ready.

    The market is pretty unforgiving right now.  Based on what you've said you aren't well capitalized enough to start investing.

    Do you need to sell your current place and buy a cheaper place?  I have no idea, I don't know really anything about you.  But can you afford to buy a rental based on what you've said?  No.  

    There's no cash flow in the first few years of ownership - none, zero, nada.  People pretend there is for various reasons.  For example, there's this thing when you buy called "closing costs."  Can be thousands and thousands of dollars.  If you spend $6,000 on closing costs, and then in month two you get $57 in rent over the mortgage, have you cash flowed?  You have not.

    I hope this helps.  Travis and I will answer any specific questions you have.  We aren't here to cheerlead or to tell you to "go for it."

    0Reply
  • Ethan Rolnick
    New to Real Estate · Atlanta, GA · Member since 2025 · 64 posts · 20 votes
    1y

    @Koty Frank what is your LinkedIn name?

    0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 968 votes
    1y

    @Koty Frank

    Hey Koty, you’re definitely asking the right questions and thinking long-term, which is huge for someone starting out. Since cash is tight, you might look into lower-cost, higher-yield markets where your money goes further and you can still build equity and cash flow right away. Many investors begin by buying in affordable Midwest markets using turnkey or light value-add properties, since those can come with property management and steady rent rolls that help you learn the ropes without being overwhelmed. The key is to start small, get that first deal under your belt, and focus on learning how to analyze and operate a property, once you have that foundation, scaling up to multifamily or commercial becomes way easier.

    [email protected]614-418-6081
    1Reply
  • Eyal Goren
    Investor · Member since 2022 · 49 posts · 17 votes
    1y

    Good luck. 


    On a practical level - if you need to analyze a specific deal - I'm happy to help.

    0Reply
  • Ethan Rolnick
    New to Real Estate · Atlanta, GA · Member since 2025 · 64 posts · 20 votes
    1y

    @Koty Frank I couldn't find you. Could you PM me please?

    0Reply
  • Ashish AcharyaBusiness Member
    CPA, CFP®, PFS · Sarasota, FL · Member since 2017 · 5k+ posts · 3k+ votes
    1y

    @Koty Frank,

    You've actually got some good options here if you really want to begin your real estate investing journey, like you said in the title.

  • If your current home is big enough, house hacking could be an easy first step. Even renting out a portion to help cover the mortgage lets you build savings for your next property, and you’ll also unlock tax deductions for expenses, mortgage interest, and depreciation. Down the road, you could move up into a new home and keep this one as a rental without triggering a higher interest rate or losing out on the home sale gain exclusion.

    If you need cash for the next down payment, a HELOC or cash-out refi can help you tap equity without selling. Another option is to start a small business and run it from home, and you might qualify for a home office deduction, helping cover part of your living costs while you grow.

    The main goal is to position your current home as a stepping stone. One that builds equity, income, and tax savings instead of giving all that up by selling too soon. Good luck & happy to connect!

[email protected]941-914-7779
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2Reply
  • Ethan Rolnick
    New to Real Estate · Atlanta, GA · Member since 2025 · 64 posts · 20 votes
    1y

    @Koty Frank Could you PM me please?

    0Reply
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