New Investor Looking for Guidance- Michigan
Good morning all,
My name is Jarrett and I have recently joined BiggerPockets and love everything the site has to offer so far!
I am a recent college grad, have a full time job, and have saved up 10k in capital. I currently have a 401k through work and, in addition, have been putting the max toward my Roth IRA every month. I am looking to add a little more cash flow monthly. I am seeking guidance as to whether 10k is a nice starting figure or if I should continue to save more?
I was thinking about going the FHA route and getting a small multi-family property as my first investment. I would live in the house then rent out the other unit.
Any/All advice would be greatly appreciated.
Most Popular Reply
Househacking is the best idea! I wish I had done this before I settled down. What area are you looking to buy? I'm in the Ypsi/A2 market and can keep an eye out for you. It's also a good idea to network face to face with other investors. I hear there is a great REI in Troy :)
Best wishes,
Keri