Save Money and Study OR Start Making Offers

[Bridget Y.]

I have a question that I have been dying to ask someone. Here’s the back story:

I have $16,000 principal in my Roth IRA and $9,000 cash that I can use to start my real estate portfolio.

My housing expenses will be going to almost zero within the next few months as I am doing an extreme form of house hacking (aka moving back in with my parents for a year). My parents need more help around the house and I want to save up money to start investing in real estate. It’s kind of weird to tell people I am going to be living with my parents again, but it’s a mutually beneficial deal!

So, my question is should I spend the next year saving money and learning more about real estate or should I call a realtor and start looking at properties in Mankato, Minnesota and making offers on a place that I can rent out while I am living with my parents?

I appreciate any advice you can give me.