Need Realtor Advice: Feeling Discouraged Before I Start

[Misti DelMar]

I'm buying my first investment property this summer and I've been watching everything in real estate pretty closely (through Bigger Pockets and social media)....

When I'm ready to buy this summer, I'll have 20-30k saved up,  that still won't leave room for having 50-100k liquid on the side to pay over asking price, like so many people are doing. 

*Do you guys (realtors?) out there think I even have a chance? I'm open to buying anywhere. 

*Will realtors even want to work with me if they find out I don't have tons of cash on the side to pay over asking? How bad is it really out there?

(If crypto goes on another run, I will have a lot of $$$- but that's no guarantee)

Thanks for any honesty or encouragement. Trying to mentally prepare.

[Jonathan Greene]

I would say you aren't ready if you are saying you are open to buying anywhere. You shouldn't be. You should be deciding where your money is best spent and also where it will benefit you the most. Do you want to be able to touch and see your first investment so you can learn more? You definitely have more than a chance, you just need to figure out what you want and what you can get for your money and if you want that now. Think of it this way, if you rush to get a first investment, but then find out if you just saved for another year, you could have gotten one with higher cash flow and more appreciation, would you wait?

You will most likely need to pay over asking, but you don't need cash on the side unless you are waiving appraisal.