Your Advice to younger self

[Mani Poudel]

Hypothetical question to all the experts out there.What would be your strategy and road map if you were in this situation with all the expertise and wisdom you have today.

You are in Midwest, make close to 6 figure on your day job, no debt, own single family with small equity and have good/great credit history. You do not have current REI experience or handyman skills but have willingness, energy and 50k cash for investment and want to build passive income via Real estate keeping your current job until foreseeable future.

[John Warren]

@Mani Poudel I would tell myself to house hack as quickly as possible. There is no better way to get experience than house hacking, and it is quite frankly the single easiest strategy to execute. Most single clients of mine here in Chicago are able to fairly easily pick up a property per year house hacking for several years running. Once you get to two or three properties, you will have built up cash reserves to jump into larger deals or you will have a significant amount of equity start to build up so that you eventually sell one/all of the smaller deals to make the jump.