Looking for help with my first REI

[Leana Ruggles]

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment. I think now would be a good time for me to invest because I don't have any debt at the moment, a decent amount of money saved up, good credit score, and I have access to VA loan benefits where I could get a very low down payment. I just need a little extra help with the next steps and figuring out all of the details needed to make it happen.

I would like to close on a deal by the end of this year, using either my VA loan or an FHA loan to house hack. Not super sure of the exact market I'd like to invest in mainly because I've had trouble finding listings on the market. But, currently looking around the Saint Cloud area where I could do room rentals for college students or into the twin cities area, but the property insurance and taxes are a lot higher there. I also wouldn't be opposed to using a 203k loan to finance and renovate a multifamily to house hack and rent out (I know it's a lot more work and harder to achieve but I think the potential could definitely make it worth while, especially with the up coming changes going into effect soon).

In conclusion, I've done some research but definitely open to any opinions and suggestions from people with more experience. Any tips or advice for what exactly I should be looking into or staying away from would be great. Additionally, if there is anyone in or around Minnesota that has any state specific advice or contacts, I would love to get in touch to expand my network. 

-Thanks, Leana

[Wale Lawal]

Quote from @Leana Ruggles:

 Will do, I appreciate the advice!

 My pleasure!

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