If I can't househack, what would be my next best option as a first time investor?

[Jason Na]

My family of 3 have recently moved to Atlanta area from SC. I started looking for my first property investment and can't believe the amount of information I'm getting in here!

I purchased a SFH for our own family here in GA, so no option of house hacking for me. In such a case, what would be the next best option to get started with real estate investment? I currently have cash around $60k-$70k, so not many option for me I believe. I'm currently located in Hoschton GA (Buford area), and looking for a property where drivable up to 1-3 hours maximum.(Athens, Augusta are fine too) Looking at Zillow/Redfin, it seems like multifamily home inventory is almost none around for my budget. I wonder if another SFH should be my realistic target for now. Any advice or any connection would be appreciated!!

[Jessie Dillon]

hey jason! first thing to consider: can you house hack your SFH in a unique way? renting out an extra garage bay, MTR'ing a guest room or in-law suite, renting out space to park a camper for the off-season if you have a lot of land... think outside the box ;)

it'll be hard for anyone to point you in the best direction for how to get that 60-70k working for you, without way more information. if you haven't yet, consider the following points to help you pick a strategy:

- how important is monthly cashflow to you, and do you need it right away, or can you wait

- how important is appreciation & debt paydown to you

- how important are tax benefits to you

- how much work do you want to do weekly as an investor

- are you open to partnerships or would you rather DIY it

- what skills do you have from your day job that could translate into REI

- are you looking for stability, or potential big gains?