Thoughts on how to approach my first deal.

[Isaac Salcedo]

I am 23yrs old trying to get my first deal. My first idea was to get a FHA loan 203k with 3.5% down on a 2 to 4 unit property in California. My second idea is seller financing (subject to or land contract).
Came to those ideas because of my finical situation. Rn I have about 20K saved and want to get a property or 2 before 2021 ends. My concerns for the FHA loan is not being approved bc of low income and having to wait 1-2yrs  for steady tax returns to prove income. 
I like seller financing bc I get to jump ahead and get a deal faster than doing a loan thru a lender or bank. Both of these ideas I know need more than 20k to get it done effectively. 
Right now in process of building my team but i would love some feedback from anyone who can help.

[Antonio Cucciniello]

@Isaac Salcedo Ok so given your situation, knowing you have 20K and you can't get approved for a loan because of your income. You can try seller financing, that can be one of the tools in your toolbox when it comes to how you buy a property, but it can very hard to find one of those deals.

It seems like the best spot for you would be to find someone who trusts you 100% (like a family member or really close friend). They believe in you.  They must have a job and the income.  You partner with them for the first deal, putting 10K in of your own cash, but you do the work for the deal. They provide the cash.

Again, this method is not "easy" because it takes having relationships with trust, knowledge (and sometimes experience about investing in real estate). But it can be the best path forward for you.  I did a partnership with my dad and my brother for my first deal because I couldn't afford 25% down but I KNEW I NEEDED TO START! 

It's awesome to see you wanting to get two properties by 2021. That's a great goal, but saving may make it hard for you to get there in time!