Real Estate Agent · Sarasota/Bradenton Florida · Member since 2023 · 3 posts · 4 votes
Hello Everyone! I am just posting because I am new here and new to the investing world. I have been watching bigger pockets for awhile but wanted to save a little more before committing. I am now fully committed and just wanted to ask where I should start? I am a real estate agent also and just ready to get my feet wet. Also, I am saving about 3500 a month in passive income so that will USUALLY BUT NOT ALWAYS go towards the property purchase. Thank you and glad to be here!
It sounds like you're in a great financial position and ready to take the leap into real estate investing!
I would highly recommend house hacking to start your investment journey. If you are able to offset, or come close to break even on your mortgage this will jumpstart your portfolio and maintain your monthly cash flow a positive direction. If you can house hack and keep your monthly passive income stable, there is no reason why you should not be able to rinse and repeat this process over the next few years purchasing multiple properties!
Hello Noah! Thank you so much for the insight. I have become pretty fortunate and blessed from my military career so I have that to thank. Thank you so much for the link also, I will certainly check it out.
Thank you for your service! I am more than happy to help!
Property Manager · Lansdale, PA · Member since 2021 · 826 posts · 1k+ votes
2y
Hi Caleb!
It sounds like you're in a great financial position and ready to take the leap into real estate investing!
I would highly recommend house hacking to start your investment journey. If you are able to offset, or come close to break even on your mortgage this will jumpstart your portfolio and maintain your monthly cash flow a positive direction. If you can house hack and keep your monthly passive income stable, there is no reason why you should not be able to rinse and repeat this process over the next few years purchasing multiple properties!
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
2y
I'd focus on being an agent. For being self employed I had to wait 2 years to house hack(5% down conventional loan). Don't rush it. Being an agent has it's ebbs and flows. Work on saving a bunch and building your business. Once you have a decent cushion I'd house hack
I'd focus on being an agent. For being self employed I had to wait 2 years to house hack(5% down conventional loan). Don't rush it. Being an agent has it's ebbs and flows. Work on saving a bunch and building your business. Once you have a decent cushion I'd house hack
Hello Caleb! Thank you for the insight. I would like to say I am a veteran so I was planning on buying a house to live in with my wife around May with the 0% down and no funding fee. I have 20k + saved just for a property and more invested in stocks in an Roth IRA. Do I plan on maintaining real estate just trying to find my position in it. That being said even with the 0% do you this think it is best to wait to house hack? I currently rent in an apartment and it's around $2000 a month.
It sounds like you're in a great financial position and ready to take the leap into real estate investing!
I would highly recommend house hacking to start your investment journey. If you are able to offset, or come close to break even on your mortgage this will jumpstart your portfolio and maintain your monthly cash flow a positive direction. If you can house hack and keep your monthly passive income stable, there is no reason why you should not be able to rinse and repeat this process over the next few years purchasing multiple properties!
Hello Noah! Thank you so much for the insight. I have become pretty fortunate and blessed from my military career so I have that to thank. Thank you so much for the link also, I will certainly check it out.
It sounds like you're in a great financial position and ready to take the leap into real estate investing!
I would highly recommend house hacking to start your investment journey. If you are able to offset, or come close to break even on your mortgage this will jumpstart your portfolio and maintain your monthly cash flow a positive direction. If you can house hack and keep your monthly passive income stable, there is no reason why you should not be able to rinse and repeat this process over the next few years purchasing multiple properties!
Hello Noah! Thank you so much for the insight. I have become pretty fortunate and blessed from my military career so I have that to thank. Thank you so much for the link also, I will certainly check it out.
Thank you for your service! I am more than happy to help!
Hello Everyone! I am just posting because I am new here and new to the investing world. I have been watching bigger pockets for awhile but wanted to save a little more before committing. I am now fully committed and just wanted to ask where I should start? I am a real estate agent also and just ready to get my feet wet. Also, I am saving about 3500 a month in passive income so that will USUALLY BUT NOT ALWAYS go towards the property purchase. Thank you and glad to be here!Welcome! Ton of opportunity to connect, learn, reconnect, rinse and repeat!
Great savings plan and strategy. If you are seriously looking to invest, start buying and holding/rent right now, especially in Sarasota! But what else do I know? San Antonio, TX. Do not hesitate to let me know how I can probably help you out with what you are looking for. -Steve
Cleveland, OH · Member since 2022 · 811 posts · 578 votes
2y
Caleb,
Thanks so much for your service and welcome to BiggerPockets!
Definitely get into house hacking as soon as you can especially if you're paying $2,000 a month for rent. I have no idea how much properties cost in your area or what kind of properties there are but even if you bought a duplex and rented out the other unit, you would likely be paying less than you are for rent right now.
The goal with house hacking is long term wealth building, paying less than you would renting by having a tenant pay for some of your mortgage and learning how to be a landlord onsite.
Investor · Tampa, FL · Member since 2020 · 287 posts · 152 votes
2y
Hey Caleb, welcome to a great community. If your goal is to invest your first step should be to determine your goal and exit strategy. Is your goal to flip, rent small multi family, Airbnb/STR? By answering this question you can start to get an idea of what an ideal project looks like for you. The next step would be find a way of locating these style of properties. Since you're licensed, perhaps the MLS is a good place to start, set up a search for yourself on the MLS to go through for example all the duplexes for sale Sarasota/Bradenton/Tampa. The one's that look interesting, run some numbers to see if it could cash flow and reach out to the agent at the very least as a exercise to more comfortable targeting deals! The more you do this, the more comfortable you will feel pulling the trigger when the right deal comes around.