A lot of you are not sure what is the best form of investing to do. In this video I make a complete tier list on what are the better investing strategies for beginners and which ones are worse. Our next call is Monday at 5 PM EST. Make sure to go to the calendar section and please click on the event and add to calendar so this way you don't miss any of our calls!

What do you want to invest in? There are single family homes, multi-family homes, condos, vacation homes, commercial properties such as office spaces and lodging and many more. Consider your situation and see what the road ahead will be. Weigh what heavily interests you and begin the search to find a property that will cash flow. For me, I am searching for a multi-family home, specifically a fourplex. My goal is to house hack the residence while I continue to serve in the military. How will you fund your first investment? There are plenty of conventional and unconventional ways of funding your first deal. You can take out a loan (Conventional Mortgages [30 year fixed rate or 15 year variable rate], FHA Loan, VA Loan) or aim for an unconventional method using the OPM (Other people’s money) method or perhaps a hard money loan (googling “methods similar to OPM in real estate”) will give you plenty to read upon. For me, I am planning to utilize the VA loan in funding my first investment. The property needs repairs, what should you do? If the property needs repairs, you need to prioritize building relationships with local contractors and finding out how much the repairs will run you and budgeting for that and then some. Extra is better than coming up short. Do your due diligence in finding the right contractors, speak to past customers and ask to see their past work. Quality Quality Quality, because your tenants will definitely test its durability. Do you want to manage the property or outsource to a property management company? This is a big concern for plenty of people. They are afraid of tenant nightmares where the tenants know who owns the property and will hassle them relentlessly. Do you want to be the person they go to when the property needs repairs, or deal with late payments. Outsourcing the duties to a property management company will solve these situations, but at a price. Budgeting roughly 10% of the rental income for this expenditure will be required. Now will it be a deal breaker for you, that’s a question to ask yourself. Doing your due diligence with finding a reputable PM company will be of extreme importance. Don’t be in the dark with your investment property, find a company that will communicate and get the job done in a timely manner.

What’s up everyone! wanted to ask y'all about this situation im currently in. I currently live in my first property with a $1,919 Mortgage payment. I want to buy my 2nd property and stumbled across a property of $299,000 3/2 with a 1/1 ADU. According to rentometer & RE Agents the ADU can rent anywhere from $900-1k. I’d like to live in the 3/2 to house hack but am also open to rent the entire property but would need more $ down which I don’t have. (I have yet to run the analysis on buying it as an investment) According to the lenders numbers (attached) The mortgage on this property would be $2,345. Leaving me with a payment of $1,345 if the ADU gets rented. My biggest problem is if my current properties rent would cover the mortgage. I’m willing to pay money out of pocket to cover if need be. my question here is should I move and house hack it, or just keep saving up until rates change (to help rent my current property), and I have a good 20% down for an investment property? Still in the early stage of the process, just wanted to come on here and ask before I take things further with Lender & Realtor. Thanks!

I wanted to come on here and ask something a little different and hope others can benefit from it too. A big part of being in here is to build wealth through real estate. Although I believe before that happens we must have foundations set in place. For example, I would think an emergency fund is critical (3-6 months of living expenses), and of-course a good chunk of money to put forward towards our investing goals. Personally, I have a set emergency fund, and an investment fund that Is constantly growing. I’m at a stage where my main focus is to grow my investment fund as much as possible, in fact 35%+ of my income goes straight to it. I’m saving around $2,600+ a month. Although, a bump in the road has come up for me. I’m in need of a new vehicle and am not sure where to pick money out of. Do I take from my Emergency fund? Do I take from my Investment fund? Or do I take from neither, finance a vehicle and pay it off as quickly as possible? (keep in mind I intend to spend no more than 10K) I’m 24 years old and grew up in an environment where finances were never even talked about. I’m self aware of where I’m at and hope to get some advice from some of yall that are further ahead in life. Thanks.

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