Zero Experience Newbie w/$15k cash to invest. Suggestions?

[Preston Patterson]

Hey all,

After reading a few books about real estate and business I think I found my calling. Still learning the vocabulary, but am a quick learner.

I have poor credit score, but a full time job for w2 income. I have no properties yet and still need to find local connections to get started.

I may have access to more capital through family, but right now $15k cash is where I am sitting right now.

Our house is in my wife's name. We would be willing to do HELOC for additional funds. We only have $40k in equity there currently.

Any advice is welcomed. Fire away!

[Ben Scott]

If you're doing a househack, you can get an FHA loan for a property up to 4 units. So you could purchase a duplex/triplex/4plex with an FHA/VA loan, live in one side and rent out the other(s). You would not 'cash flow.' But you would almost eliminate your housing costs. Would it be uncomfortable/awkward, maybe. But making such a purchase would springboard you into a real estate investing career without much capital.