Florida Market Ideas for low cash start up

[Joy Zoggia]

Hi everyone! 

My name is Joy I'm a mom of 2 little ones, I owm my primary residency currently (FHA 5.75%). In the past two years of owning it, my house has gone from $304k to $360k-ish. I'm starting to learn it all as far as equity, house hacking... all of it. I have limited cash in hand that I'm able to invest...I'm not sure that the current equity in my house is enough either to use it for future investments. I'm an engineer and even then, I'm getting really tired of feeling like life is a paycheck-to-paycheck situation even being an engineer...

 I know there's not an ultimate answer, but what would be your way of getting started with real estate investing in my position? I've been hearing about airbnb on rentals, is airbnb still worth looking into now a day?

Unfortunately having two little ones some of the house hacking for us would not work (I know it's a broad term and there's much that can be done under that). But wanted some word of advice on what would be best to get started? I love the idea of getting into flips. airbnb.. 

I appreciate any word of advice.

Thanks!

[Tanner Lewis]

Honestly, the short answer is that you need cash to make cash. I suggest partnering with an equity investor on your next deal and making the numbers work that way. Most investor loans require a minimum of 20% down for rentals and 15-20% down for flips, especially if you are a first-time investor. You will also need liquid asset reserves to get financing on a deal. It depends on the product, most it can range from 3-6 months of PITIA.