New investor, 0 Debt, and good credit, options?

[Adam McLaughlin]

I was a scuba instructor traveling and living in the Cayman Islands until COVID. That industry has taken a huge hit and it’s time for me to start planning my financial future. I have no debt, very good credit well over 730+, but no cash. I just started a full time job but I don’t really have any extra money.

What would your advice be to someone who is super eager to get started but lives in a relatively expensive area? (St. Petersburg Fl)

Unfortunately, house hacking isn’t really an option because I made a deal with my friends to room in their new house for a VERY reasonable rent in order to help them pay their new mortgage. If I would’ve known about house hacking earlier I probably wouldn’t have made this deal but I’m still living way under the average rent so I can’t complain and don’t want to screw them over by moving out to house hack and only pay 3.5% down on something.

I definitely don’t have $25-30k lying around for a 20% down payment so I guess I’m just trying to figure out what real options I have!

What I think the best plan for me to do is just be patient keep reading investment books and take advantage of the low rent I’m paying to save every dime I make and eventually come up with a down payment so I don’t have to ask someone for money. But I don’t want to be one of those people who just dreams and never takes action.

I hope this doesn’t sound like I’m whining or begging for help that was just what my brain was thinking so I wrote it out on paper!

Have an excellent day everyone and thanks for any input in advance :)