Young, Dumb, and Broke

[Justin H.]

Hello Everyone,

Thanks for clicking into my thread! I am a recent University graduate living in the Greater Seattle Region. Financially, I am fairly stable with strong credit (730+), and working a entry level tech recruiting job allowing me to save roughly a quarter of my salary after bills, entertainment, and etc. I know it sounds contradictory however, a good portion of my savings has been wiped out due to some unforeseen family emergencies. 

However, I am currently very torn by my current choices that I foresee. Given my younger brother is about to enter University in the next year, I would love to deal hunt for a home that is a perfect middle ground. As in between Seattle, and wherever he attends school. Originally I hoped to house hack while he attends university. Look for a property that is 4 bed, 2 baths take two for ourselves, and rent the rest. Areas I was thinking of is, Mountlake Terrace, Ballinger Lake, or Lynnwood area.

That was until I kept reading and realized that mortgages have a cap, in terms of the amount of money they would be willing to loan you. This has me wondering, would it not be better to forfeiting the 3.5% FHA loan (should be eldigble for a 3.5% FHA loan around this time next year in terms of 2 years in same industry), and simply begin purchasing cash flow turnkey properties from reputable companies like those owned by Chris Clothier? While turnkey properties does seem to have a sour rep, there does seem to be a lot of people such as Jay Hinrichs who mentions that it is only as good as the provider you find, with deals that has the numbers worked out. 

Feel free to let me know if I am oversimplifying everything, however I would love to take action or at least get closer to finding that formula to achieving the results of many biggerpockets speakers that has 100+ units.