Trenton, Mercer County · Member since 2025 · 13 posts · 12 votes
Hi, my names Emily. I'm 25 from central New jersey (mercer county area). It's a pretty expensive market. single family houses go for average $450k. I've been working my first 9-5 for little over 1 year. I bring home $3,700 a month and i'm putting $2k a month towards a down payment and $500 toward investments. I currently live at home i'm not urgently looking to move out but I want to get started on my real estate journey. I've saved up $20k in my HYSA and have $20k in a brokerage account that I really don't want to touch but I of course it's an option. I wanted a way to make more capital fast so I wanted to try wholesaling but it's been almost a year and I haven't gotten any deals (with my 9-5 I haven't been putting as much time as I should towards it) My main goal is to buy my first property and house hack. I LOVE the idea of people paying off my mortgage for me. I really would like a duplex but they go for like 600-800k around here. I talked to one lender so far they said with my 795 credit score and $0 debt I could qualify for $325k loan. But I need advice on what's my best course of action here. Should I keep saving and trying to wholesale, or go for finding my first property even thought I feel like I don't really have a full proof plan yet. Also I know i could get 3.5% down if I live in the property and 20% down if it's solely an investment property. I definitely need to learn more about all the loan options.
Wholesaler · Charleston WV · Member since 2026 · 219 posts · 120 votes
1w
You are actually in a better position than you probably realize. You are 25, have a 795 credit score, no debt, $20k saved, and you are saving another $2k a month. I would protect that position.
If your real goal is owning real estate and house hacking, I would make that the priority instead of feeling like you have to get a wholesale deal first.
I would talk to a few more lenders and learn every owner occupied option available to you. I also would not get stuck on needing a duplex. A single family house with the right layout, extra bedrooms, basement, or other way to offset your payment could still be a great first move.
You can keep wholesaling on the side, but I would treat it as a way to learn how to find opportunities, negotiate, and potentially find your own property rather than depending on it to generate your down payment.
You have time on your side. I would rather see you buy one really good property that you can comfortably afford than rush into something because you feel like you need to get started.
You’re actually in a strong position with a 795 score, no debt, and the savings discipline you already have. I wouldn’t rush into a $600k–$800k duplex just because house hacking sounds attractive, especially if your current mortgage qualification is around $325k.
I’d focus first on learning the owner-occupied 2–4 unit loan options, what rental income the lender may allow you to use for qualification, and what your true cash requirement would be including reserves, closing costs, and repairs. You may also find that a slightly different market makes the numbers work much better.
I work on the business funding side, and one thing I’d add is to keep your personal mortgage profile clean while you’re preparing to buy. Business lines of credit and 0% APR business credit cards can be useful later for legitimate business expenses, renovations, marketing, or reserves depending on the situation, but I wouldn’t use funding just to force a property purchase that doesn’t already make financial sense.
With your credit and savings, I think having the right financing strategy before you buy will be much more valuable than rushing to create capital through wholesaling.
Real Estate Consultant · Ann Arbor, MI · Member since 2022 · 460 posts · 250 votes
2w
Hi Emily from Trenton, New Jersey-
Congratulations on finding a position that pays well at 25 and saving money while living at home to buy your first house. This is a wise plan and you are fortunate to be able to do this.
You are thinking about buying a duplex and living in one unit and renting the other unit out but duplexes are pricey where you live and wonder if you should consider other options.
I think this is a great plan and just keep saving for a downpayment as a primary residence with the duplex and reserves for the unexpected.
Pretty soon, you will have equity in the duplex and can go do the same or buy a tri-plex next and then a 4-plex after that buying each as your primary residence and renting out the unit you lived in when you go buy the next one.
This is a great way to build a portfolio and wealth.
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
2w
Anyway to increase your income at your job? $3,700 a month will be brutal to qualify for over 400K. You can try doing a single family where you can have roommates. Not sure if you can broaden your search and have longer drive time, that might lower the price. It's good you are saving up $$ but more income will help. Wholesaling is a business. To see fruits you'll have to dedicate more time or you're better off trying another side hustle. I would continue to save, focus on increasing your income (whether it's your job or side hustles) and analyze various markets by you.
Banker · Philadelphia · Member since 2009 · 2k+ posts · 629 votes
2w
Emily, you’re actually doing several things right already. At 25, having approximately $20K in savings, additional investments, a 795 credit score, no debt, and the discipline to save $2,000 per month gives you a strong foundation.
I wouldn’t necessarily make wholesaling the prerequisite for buying your first property. Wholesaling can be a great business, but it requires consistent lead generation and follow-up. If your primary goal is ultimately to own real estate and house hack, I would focus your energy on understanding what you can realistically purchase and finance.
I also wouldn't limit the conversation to "3.5% down versus 20% down." There are several financing strategies worth exploring for an owner-occupied property, particularly if you're considering a 2–4 unit property. Depending on the program and your qualifications, FHA, conventional, and other owner-occupied options may allow you to purchase with substantially less than 20% down.
The challenge is that qualifying for approximately $325K and wanting a $600K–$800K duplex creates a significant gap. Rather than waiting indefinitely for your savings to catch up, I would explore several possibilities: expanding your search geographically, considering a less expensive single-family home with a house-hacking strategy, looking at properties where you could potentially add value, or determining whether a 2–4 unit property could qualify differently based on the specific loan program and projected rental income.
One thing I would not rush to do is liquidate your brokerage account simply because it's available. Your down payment is only one part of buying a property. You'll also want sufficient funds for closing costs, reserves, repairs, vacancies, and the unexpected expenses that come with becoming a property owner.
Before deciding what to buy, I would speak with a lender who understands real estate investors and house hacking, not simply someone who can tell you your maximum preapproval. Ask them to model several scenarios so you can compare the monthly payment, cash required to close, potential rental income, and reserves.
Then work backward from the numbers.
Your first property doesn't have to be the perfect property or your forever investment. It needs to be a financially responsible first step that puts you in a position to purchase the second one.
You have time, strong credit, no debt, savings, and a clear goal. I would use the next few months to become very intentional about financing, neighborhoods, property types, rents, and actual deal analysis rather than waiting until you feel like you have a foolproof plan.
There rarely is one. The goal is to have a well-underwritten plan with enough margin for things not to go perfectly.
If you'd like, I'd be happy to help you understand some of the different financing options and strategies available for your first property. I'm licensed in New Jersey and Pennsylvania and spend most of my time working with and educating real estate investors, so I'm always happy to be a resource.
Best of luck getting started, Emily. You're asking the right questions early in the process.
Albuquerque, NM · Member since 2026 · 7 posts · 2 votes
2w
Hi Emily,
I'm Raul from New Mexico. I'm 26 and I'm surprised how similar mi situation is compared to yours. I have a 790 credit score and about 20k in savings as well. I'm also trying to find the best course of action, I really hope you find yours. What I can recommend is to keep active, keep learning, keep asking questions and talking with people. I wish you the best.
Lender · Boca Raton, FL · Member since 2026 · 15 posts · 4 votes
2w
Emily, Congratulations on taking the first step to purchase an Investment Property!! I wouldn’t make this simply a choice between “keep saving” and “buy now.” I’d first work backward from the type of property you actually want to own.
If your goal is a duplex that you'll occupy while renting the other unit, I’d have someone analyze your situation specifically as an owner-occupied two-family purchase rather than assuming the $325K qualification you received represents every possible scenario.
I’d want to know three things: what purchase price actually works based on your complete financial profile, how much cash you would need to close while keeping an appropriate reserve, and how the rental income from the additional unit affects the overall analysis.
If there is still a significant gap between what works and what duplexes are actually selling for in Mercer County, then you have useful information to make a decision. You could keep building cash, broaden the markets you're considering, adjust the property type, or revisit the numbers as your income changes.
I wouldn't rush into a property just to say you've started investing, but I also wouldn't abandon the duplex idea based solely on one preliminary loan amount. I'd get the complete two-family scenario analyzed first.
Please keep us posted on your progress and let us know if we can be of further assistance.
Englewood, NJ · Member since 2018 · 355 posts · 59 votes
1w
I’d separate the goals: keep your home-buying fund intact and treat wholesaling as a skill-building experiment, not money you need for the mortgage. Before spending on tools or chasing a duplex, underwrite a few local deals and talk with a title or closing professional about assignment rules, then set a specific savings and deal-review cadence. A duplex may be more achievable after you verify local rents, taxes, insurance, and financing with conservative numbers.
Side note from my Broward clerk work: 4253 SW 124 Terrace, Miramar (folio 514035141360) — clerk sale Sep 22 2026, BCPA just value $465,190. Not under contract; I sell the public-record packet as information only.
Wholesaler · Charleston WV · Member since 2026 · 219 posts · 120 votes
1w
You are actually in a better position than you probably realize. You are 25, have a 795 credit score, no debt, $20k saved, and you are saving another $2k a month. I would protect that position.
If your real goal is owning real estate and house hacking, I would make that the priority instead of feeling like you have to get a wholesale deal first.
I would talk to a few more lenders and learn every owner occupied option available to you. I also would not get stuck on needing a duplex. A single family house with the right layout, extra bedrooms, basement, or other way to offset your payment could still be a great first move.
You can keep wholesaling on the side, but I would treat it as a way to learn how to find opportunities, negotiate, and potentially find your own property rather than depending on it to generate your down payment.
You have time on your side. I would rather see you buy one really good property that you can comfortably afford than rush into something because you feel like you need to get started.
Real Estate Agent · VA · Member since 2008 · 420 posts · 175 votes
1w
I know this might be an unconventional rout for most; however, I'd look investing buying/selling land. I just closed on one for 10k and getting ready to list it for 40k. You could build some cash while growing your down pyament amount. Wholesaling isn't easy, and it requires a lot of marketing capital, just know that is very doable though and seems like you are in the right trackt!
Investor · Pacific Northwest · Member since 2026 · 506 posts · 285 votes
1w
I wouldn’t make wholesaling the center of this plan.
You’re actually in a much stronger position than you think: 795 credit, no debt, $20k cash, another $20k you’d prefer not to touch, and you’re saving roughly $2k/month. The issue isn’t discipline. It’s that your current borrowing power and the $600–800k duplex market don’t line up yet.
So I’d work backward from the acquisition instead of trying to manufacture cash through a completely separate business.
First, get 2–3 lenders to underwrite the same live-in scenario and tell you exactly what is constraining the loan amount: income, reserves, DTI, or something else. Then build your buy box around what you can actually finance. Look at duplexes, other 2–4 unit opportunities, properties with rentable space, or slightly different geography rather than deciding the only acceptable first move is a $700k duplex.
And treat wholesaling separately. If you genuinely want to build a wholesaling business, build it. But don’t make your first property dependent on becoming successful at another business first.
The important number here isn’t “How fast can I get more cash?” It’s:
What has to change for me to safely control a property whose other occupants materially offset my housing cost?
Once you know that gap, the plan gets much simpler.
You’re close enough that I’d spend the next 60–90 days designing the acquisition properly rather than randomly pushing harder on wholesaling.
If you want, reach out. I’d be happy to help you map the numbers and build the buy box around your actual situation.
Accountant · Los Angeles, CA · Member since 2021 · 2 posts · 0 votes
1w
Honestly, I think you're in a pretty interesting position because you've already done a lot of the groundwork — strong credit, no debt, $20k saved, and you've already talked to a lender.
I'm actually researching the first-time investor experience right now, specifically the point where someone goes from "I want to invest" to actually feeling confident enough to make their first purchase.
Your post caught my attention because you're basically at that exact decision point.
If you're open to it, I'd be interested in asking you a few questions about how you're thinking through the decision — no sales pitch or anything. I'm trying to understand where people actually get stuck when figuring out their first move.
And if you eventually find a property you're seriously considering, I'd also be happy to walk through the numbers with you and give you a second set of eyes.
Accountant · Seattle, WA · Member since 2025 · 136 posts · 36 votes
1w
@Emily Croesyou’re in a better position than you may think. At 25, you have great credit, no debt, solid savings, and the ability to keep living at home while you plan. I wouldn’t let the lack of a wholesale deal discourage you; wholesaling takes consistent time and doesn’t have to be the path that funds your first purchase.
I'd talk with two or three lenders who understand owner-occupied multifamily properties and compare FHA, conventional low-down-payment, and New Jersey first-time-buyer programs. Ask whether projected rent from another unit could increase your purchasing power.
In the meantime, keep saving and analyzing deals. If local duplexes are out of reach, consider renting rooms in a single-family home, a property with a legal accessory unit, or a nearby market with a reasonable commute. I’d avoid draining your brokerage account and make sure you still have funds for closing costs, repairs, and emergencies. You don’t need a foolproof plan—just a conservative deal you can comfortably afford. Wholesaling can remain a side project instead of holding up your house-hack goal.
Banker · Philadelphia · Member since 2009 · 2k+ posts · 629 votes
1w
Hi Emily,
At 25, with a 795 credit score, no debt, $20K in savings, additional investments, and the discipline to save $2,000 per month, I think you're already building a strong foundation. I wouldn't feel pressured to force a wholesale deal simply because you think you need substantially more capital before getting started.
Since your goal is ultimately to house hack, I would focus on understanding your owner-occupied financing options and determining what you can realistically afford before deciding that a $600K–$800K duplex is your only path.
A house hack doesn't necessarily have to start with a duplex. You could consider a more affordable single-family property with the right layout, or expand your search geographically if that works with your job and lifestyle. You can also explore 2–4 unit properties using owner-occupied financing, depending on qualification and program requirements.
One important point: 20% down isn't automatically required simply because you're purchasing an investment property. There are numerous financing structures, and the right one depends on whether the property will be your primary residence, your income, reserves, property type, and investment strategy.
I would approach your first purchase from the opposite direction: don't find a property and then figure out how to finance it. Understand your financing first, establish your maximum comfortable monthly payment and cash requirement, and then search for properties that fit the strategy.
I'd also protect your reserves. Buying the property is only the beginning. You'll want cash available after closing for repairs, vacancies, maintenance, and unexpected expenses rather than putting every available dollar into the down payment.
You're also doing something extremely valuable right now by living at home and saving aggressively. There's nothing wrong with continuing that for another 6–12 months while educating yourself and actively looking for the right opportunity. At your current savings rate, another year could add roughly $24,000 to your down-payment fund before considering interest or other changes.
I'm a NJ & PA licensed real estate agent as well as a nationwide direct private lender, so I see both the acquisition and financing sides of investment real estate. My suggestion would be to build a simple plan around three numbers: maximum purchase price, total cash needed to close, and projected monthly housing cost after rental income.
Once you know those numbers, you'll have a much clearer picture of whether you should buy now, continue saving, or adjust the market/property type you're targeting.
You're not as far away from your first property as you may think—the key is making the first deal financially sustainable, not simply getting the first deal done.
Rental Property Investor · Atlanta, GA · Member since 2025 · 18 posts · 7 votes
1w
Emily, you are in a great position given your age, job status, credit score, and present capital saved. I agree with Travis and Nicholas.
I understand that the Mercer County market is a high-priced market for a first property. Have you considered investing outside of market? If you establish the right landlord operating process, you do not have to live in the same market as the rental property. There are a number of markets in the south and southeast where the median price of a home goes from $ 230,000 to $ 300,000. These submarkets are fueled by growth from white- and blue-collar jobs, universities and colleges, large hospital systems, airports, and a large government work footprint.
If you are open to buying in another market, then you have to decide whether you would do it yourself with a team of real estate professionals or a turnkey company. You can establish success under either of these models.
I just want you to know that you are not limited to Mercer County.
Wholesaler · Chicago IL · Member since 2026 · 3 posts · 0 votes
1w
Emily, you're in a great position with your savings and credit score center. Interested in wholesaling. You could pursue that part-time while you save up for your primary resident's house. Hack
Truly, I don’t think that you need to get into it quickly since you have an amazing credit score, zero debt and you are putting money away very quickly, so I would shop around for lenders on the owner occupied end of things and actually start looking at deals, and if it works out, awesome and if it doesn’t, keep saving until it does.
Honestly, I think you’re in a pretty good spot for 25. A 795 credit score, no debt, $20K saved, and putting away $2K a month is a really solid foundation. I wouldn’t feel like you need to rush into wholesaling just to come up with capital, especially if your main goal is to eventually house hack.
Since prices are so high in your area, I’d spend some time learning the different loan options and looking at what you can realistically qualify for. You may have to get creative with the location or property type, but I’d start analyzing actual deals now so you can recognize a good opportunity when one comes up. I’d also keep that brokerage account untouched if you can and continue building your cash reserves.
I’m a real estate agent based in Memphis, TN, and I work with investors building long-term rental portfolios. Memphis is obviously a very different market from Central Jersey, but it could be worth comparing the numbers and seeing what’s possible in a lower-cost market. If you ever want to explore Memphis or just bounce some ideas around, I’d be happy to connect.
Englewood, NJ · Member since 2018 · 355 posts · 59 votes
4d
Hi Emily, good question. Underwriting just means running the numbers on a specific property before you make an offer. Here is the basic process:
1. Find a property (Zillow, Realtor, or even driving around looking for distressed houses) 2. Get the asking price or estimate what you could buy it for 3. Look up the property taxes on the county assessor website (for Mercer County, that's the tax collector site) 4. Get an insurance quote - call 2-3 insurers or use an online tool 5. Estimate repairs - if you can't walk through, use conservative numbers like $15-25/sqft for light rehab or $40-60/sqft for heavy rehab 6. Research comparable rents - look at Zillow rentals, Craigslist, or call a local property manager and ask what similar units rent for in that neighborhood
Then you calculate: Gross monthly rent minus property taxes (monthly) minus insurance (monthly) minus repair reserve (usually 10% of rent) minus vacancy reserve (usually 5-8% of rent) minus property management if you won't self-manage (usually 8-10% of rent) = your monthly cash flow
If the number is positive after all those expenses, the deal works. If it's negative, you either need a lower purchase price, higher rent area, or the deal just doesn't pencil.
The point of doing this a few times is that you start to develop a feel for what numbers work in your market. After you underwrite 5-10 properties, you'll quickly be able to tell just from the listing price and address whether something is worth pursuing or not.
You can also use the BP calculators (they have free ones on the site) to plug in the numbers. The key is to be conservative - if the deal only works with optimistic numbers, it probably won't work in reality.
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
1d
If I was starting out again with what I know now, I'd look to acquire a 2-4 unit property with an FHA 3.5% low-down payment mortgage.
I'd also look into using an FHA 203k renovation loan, allowing me to buy something ugly, thus unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.
To maximize my cashflow and gain landlording experience, I'd do STR and MTR in the other units, as well as the other bedrooms in my unit.
Since most cities won’t allow basement rental units, I’d consider finishing the basement, just well enough for me to live down there (cities don’t care if owner chooses to live in basement), so I could rent out ALL the units/rooms.
I'd save all my cash and look to refi the property in 1-2 years out of the FHA mortgage, so I could use it again if necessary. Depending on how close I was to having 20% equity in the property and being able to avoid PMI, I'd consider using some of my cash to pay down the mortgage when I refinanced. Otherwise, I'd save my cash for the next acquisition.
I’d also be posting on every social media platform and telling everyone I knew that I was looking for more real estate deals. I’d aim for low downpayment land contracts and lease options.
After refinancing out of the FHA mortgage, I'd evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.
While still living in the property, AFTER the refi out of the FHA mortgage, I'd also explore securing a HELOC to tap my equity for emergencies.
