First Investment Property Purchase Help - Multifamily/AirBnB/Saving Strategies

[Frank Van Der Veken]

Hi All,

I'm fully employed with a real estate development firm but, I am also a relatively new licensed agent located in NJ. Prior to starting my journey as a realtor I always had an interest in real estate investing. I'm reaching out in hopes for some guidance as I look to purchase my first investment property. For quite some time I had my heart set on purchasing a multi family property as my first purchase preferably in Union County, Monmouth County, or Hudson County NJ. I also have an interest in purchasing properties that could be used as AirBnB properties in areas such as Ocean County, Pocono Mountains, or even Florida. Outside of my real estate investing I have a side hustle I am hoping to also pursue as early as this summer.

Ultimately, I am looking for guidance / mentorship that I am willing to compensate for to help put me in the right direction. Would a side hustle be worth it if it requires up front capital but could help push me towards purchasing my first investment property months down the road? Or is saving as much as I can in this market the smarter play since purchasing a home in my #1 goal. Piggy backing off of that what is the upside of purchasing a local multifamily vs. purchasing an AirBnb property first.

Any tips would be greatly appreciated!

Thanks,
Frank