First investment property, seeking advice and open to learn

[Diane Jacob]

Hello BP Community,

My name is Diane, and I'm just starting my journey as a real estate investor. I currently live in the Midwest and, due to circumstances, house hacking is not an option for me. I'm working on building my down payment including repairs fund and have a good credit score above 750.

I’m interested in buying a property near Kansas City, in markets like Topeka or Springfield, IL, but I’m open to other cities in the Midwest. I’ve noticed that most local lenders offer loans starting at $75K and above. I’m seeking advice on how to fund properties typically priced at $66K or below, as well as properties around $100K or under.

I've been looking into the BRRR method and Section 8 as potential strategies. Right now, my main challenges are finding funding options as a starting investor and analyzing deals effectively.

Any advice on starting out, funding options, and thoughts on different markets would be greatly appreciated! I’m eager to learn from this community and hear your experiences.

Thank you!

Best,
Diane