I am a Realtor and of course familiar with the regular real estate transactions with buyers and sellers but I do not have enough knowledge about investing. I would like to start investing in real estate myself. There are so many options out there but which one would be the easiest for a beginner especially if you don't have thousands of dollars. Would it be wholesaling? I hear from investors around me that they are having a hard time lately finding deals. Any advice is much appreciated. :)
Nashua, NH · Member since 2017 · 66 posts · 58 votes
6y
@Ellie Mitchell
Hi Ellie,
Personally I believe the best is to buy a multi family and house hack. I bought a 4 unit in 2016 and it’s been great. I have two roommates and three full units and the closest I had to vacancy was a guy who moved and was month to month and didn’t give full notice and I actually had double rent for two weeks. He had given me the heads up he was relocating it just worked out I had a tenant before his rent ran out. I was able to bring a low down payment and cash flow right away. My mortgage pay down has been great and it has gone up nicely in value $125k on $300k purchase. I also own two other multi’s but ease of purchase and being able to have a normal (not looking for owner financing) makes house hacking a lot easier to find the right deal. It really opens you up to lots of possibilities.
Rental Property Investor · Hershey, PA · Member since 2017 · 9 posts · 2 votes
6y
Hi Ellie,
There are a lot of options and unfortunately, just as many opinions on which is "easiest." Factors that affect that are access to cash, market, and personal goals. You may want to start by reading Brandon and Josh's book, How to Invest in Real Estate: The Ultimate Beginner's Guide to Getting Started. With that said, there are three things needed. Money, Knowledge, and Hustle(Time). As an agent, you have some knowledge of value. If you're willing to hustle, you just need to partner with someone with money that needs a partner with some knowledge and hustle. My thought is to start with REO's. And in a tight market, you just need to fill the funnel. Hope that helps.