How can I get started in today’s market?

Question

Hello BP Friends

As we all can see there is a definite shortage in houses to buy. I have my downpayment save for a first house hack but haven’t had any offers accepted and other homes don’t cash flow. What other ways can I invest into real estate and see a decent return (anything that fits into a schedule of a full timer also outing another interest) I know what I don’t want to do and thats wholesaling. I still like the plan of house hacking a property via AirBnB. Any suggestions?

Thanks.

Jonathan Greene · Answer

Don't fall into the trap of giving up on your plan just because the market is so hot. Stay the course, keep learning, and feel happy when your solid offer gets beat out by a crazy offer because those people are going to be losing money on their investment in two years while you will be cash flowing from being patient and waiting until the market softens a little bit. Don't look for alternative ways to give away your savings, just hold on and wait and read and learn and build relationships.

Justin Hoggatt · Answer

Hi, Tiffany!  I know what you're going through!  When you're competing with many other first time home owners and a shortage of product, it's extremely difficult to enter in.  You will need to either have a good resource, a good marketing plan, a stomach for a true fixer upper, or get lucky.

An area that I think can be a great opportunity are syndicated deals.  This allows you to pool with other passive investors and get into a deal that you wouldn't normally be entering into.  Many times you need to be accredited. but there are crowdfunding deals that you can get into with varying degrees of entry.  It may be tough to consider when you've got your eyes set on doing your own deal, but can also be a savior when you're stuck and when you are busy working and outing another interest like you mention.

I'd be happy to talk with about what we do.