Any Tips for beginners?

[Kye Lampinen]

Hi, I’m Kye Lampinen. I’m from Greenville, SC. I am 19 years old and am working a full time job. I want to get married this year and I am looking to buy a first home now. I have been doing a lot of research, listening to podcasts, and reading books. I was wondering what your thoughts are on buying a duplex and “house hacking”. I am a little scared about how this COVID19 virus will affect the market. Do you think the market will get worse? And I don’t have any credit because I bought both my car and truck cash. So I’m not sure if a bank will finance it.

Should I keep working for now and save till I can buy a fixer upper? Should I try to get pre-approved? Should I stay debt free?

I was taking Dave Ramsey's FPU class but I got cancelled due to COVID19. I know he is all about staying debt free, but I do like the BRRRR strategy.

So I guess all I’m asking for is any advice or tips to get started. Anything will help! Thanks in advance!

[John B.]

@Kye Lampinen

I am a Greenville beginner as well. Some things that have helped so far:

http://upstatecreia.com/

https://www.coachcarson.com/

You may still want to do FPU. Getting into the mindset of aggressive budgeting/saving with your soon-to-be bride will be a great foundation for saving to invest. There are different perspectives on leverage ( https://www.coachcarson.com/dave-ramsey-debt-is-dumb-real-estate/ ). Understanding where both sides are coming from may make you wiser as you ultimately decide what is best for your family’s investment.