What should be my starting strategy?

[Josh Dubin]

So I'm 22 years old, just graduated college with a degree in Mechanical Engineering, and looking to get into real estate investing. I have 30k in the bank, and will be getting a job very soon making hopefully at least $55k. 

I would like to know which strategy I should I plan to pursue, so I can begin educating myself in the right direction. I'd like to think that I can somehow get a loan to fund my first deal, whether it be a bank loan or a personal loan. I know that typically, you need at least two years of work experience but I've read that simply having proof of work is sometimes all you need. 

That said, should I look for foreclosures? What about homes that are simply a really good deal, that can be flipped without renovations? Should I pursue flipping? Will that even be feasible for me? One option I've been considering is the house-hack strategy. It's appealing to me because you get to live nearly for free, but even more so unappealing because it won't generate any profit. The house hack essentially falls under the category of a buy and hold, which IMO (correct me if I'm wrong), is best suited for when you have significant capital to invest. Because once I use the money I have in the bank for a down payment, it's essentially gone. I have no means of making another down payment for another deal until I somehow accumulate significant savings from my job. That's why I'm really gravitating towards a strategy that I can flip the cash I have now into more, relatively quickly, to fund bigger and larger deals. And then in due time, I will take on a buy and hold strategy. So with that said, I would love your guys' help and opinions. 

Thanks!

Josh

[James Palassis]

Sounds like a great opportunity for house hacking. Look for a duplex, tri or even quad, and live in one of the units. Let the other tenants pay your mortgage for you while you gain land lording experience. You can get into an FHA with little money down, or your $30K would come in handy for a down-payment. I'm sure many in the BP community wishes they had started out that way, I know I do. Good luck!