Looking for the right fit for first investment

[Michael Morgan]

Hi everybody, I've been on BiggerPockets now for around a month or so and have been relentlessly reading through the forums and blogs trying to decide where to begin my REI journey.

A little background on me, I'm currently 29 years old and working in the transportation/ logistics industry.  I am married (for now, I'll hit on this later) with 3 small children and own a home in a decent neighborhood on the northeast side of Indianapolis.  I am basically living paycheck to paycheck right now and am trying to change my situation and eventually quit my day job to invest full time.  I am good at what I do currently, I just do NOT enjoy it and feel there has to be something better out there.  

I have been very intrigued with the idea of wholesaling and owning rentals and from what I can tell it seems these are two RE niches that many BP contributors suggest as good beginning outlets in the REI world for newcomers.

My current situation is one that could very well end in divorce and I really don't want to move back into my parents basement.  

So, I guess my question would be to all of you is, would you suggest possibly wholesaling until I can build up some capital or looking for a multi family type setup and try and generate some cashflow there?  Also, in regard to the rental type scenario I was thinking this would be a good opportunity for me to 'house hack' and still have a place to live post divorce. 

Any and all suggestions, comments, or advice is extremely appreciated!  

[Maggie Mendoza]

Hi Michael,

I'm a house hacker and totally LOVE it. After the mortgage, property tax, and homeowners insurance is paid for, I am only out of pocket $92 a month. It's amazing and it has helped my husband and I save so much faster. We bought a duplex and live in one side and rent the other. I 100% recommend this! Since then we have bought 2 more duplexes. Craigslist, as creepy as it can be, can be a good place to find deals.

Best of luck to you!