Getting started with $0 and zero equity?

[Joshua Lee]

I've read about house hacking the BRRRR method, FHA loans, etc.. I'm ready to get started, but not I'm sure about next steps. Maybe you can help?

For the last 10 years, I've been living in Asia running a small marketing business I started from nothing to making $3-4k per month. My new wife and I are moving to FL with family because we think we'll be able to build wealth much easier here.

Luckily, we'll be living with family for a bit while we get settled. Right now, my plan is to have my wife do more of the business while I take on a full-time job and do the business part-time. Conservatively, I think we'll be making around $80-$100k/yr ($50-$80 W2, $30-$50 self employed). Crunching the numbers, it looks like we can save around $2-$3k per month.

So my question is... where to go from there? 

I'm thinking maybe the best route would be to work and save for 2 years, then buy a duplex (maybe with FHA loan) and rent one side out. Only issue is 1) that will take two years to get started and 2) Using a loan calculator, it looks like I'll only be able to get a mortgage for $200k which will not buy a duplex anywhere near us (we'd probably have to move out of state).

I've thought about some other possible options like buying a duplex in a different state with an FHA loan and living in it. In the mean time, build a one-room or studio dwelling on the property as well, and then after a year move back to FL.

Really wondering if there's a quicker option than "work for a few years to make money and then start."

[Nathan Gesner]

You are on the right path. Earn more, spend less, save, then invest. By the time you get a couple properties under your belt, you'll be much smarter and in a better position to do more creative investing.

Be careful with those cheap Ohio properties. The numbers look good on paper but reality can be very different.