First things first, let's talk about my background. I'm currently a college student at the University of Cincinnati, working hard to expand my knowledge and skill set. But that's not all—I'm also a full-time employee at Procter and Gamble, making strides in my professional career. However, I've got big dreams in the real estate realm, and I've been actively studying the market for about a year now, preparing to make some serious moves.

So, what's my game plan, you ask? Well, I've got my eyes locked on value-add opportunities in the form of single-family homes (SFH) and small multi-family properties. These properties hold immense potential for me to create value and generate solid returns. As of now, I've diligently saved nearly $15,000 specifically for my real estate investments.

Now, here's the challenge that many investors face—lending agencies for BRRRR (Buy, Rehab, Rent, Refinance, Repeat) properties often require a substantial down payment, usually ranging from 20% to 25%. It's a barrier to entry, especially for newcomers like myself. However, I'm not discouraged. I'm always on the lookout for alternative strategies to overcome this hurdle. One option that has caught my attention is the concept of house hacking. It's a compelling strategy, but due to my existing lease agreement until the end of summer 2024, I'll have to explore this avenue at a later date.

Now, let's talk about the exciting possibilities in creative financing. While I continue to accumulate capital for the traditional down payment or wait for a house hacking opportunity, I find myself considering alternative financing options such as subject-to and seller financing. I'm fully aware that my lack of experience may increase the risk associated with these deals, but I embrace the challenge and the potential for growth.

Recently, I received valuable advice that intrigued me—becoming a certified home inspector with the state of Ohio. This certification would allow me to leverage my knowledge and skills to inspect properties, not only earning profits but also gaining crucial hands-on experience. However, I want to clarify that I have no intention of transitioning into full-time home inspection since my current W2 income offers substantial earning potential.

Here's where I could really use your expertise, my fellow investors. Do you believe this aspiration is feasible for someone in my position? Should I establish an independent inspector business under an LLC structure, or would it be more prudent to seek employment with a company that can accommodate my available hours? Additionally, I'd love to hear your insights on the profitability of this venture as a side hustle and its effectiveness in providing me with the experience I seek as a beginner. Your wisdom is greatly appreciated, and I eagerly await your valuable input!

Cincinnati, Ohio

6 Votes