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Updated almost 3 years ago, 01/10/2022
19 Year Old Mechanic by Day, Real Estate Aspirer by Night
Hey everyone!
I posted a while back about my hopes of house hacking soon in order to get started in real estate and I received a lot of great advice.
Just a little recap: I am located in Kansas City and work full time as a classic car mechanic. I work as much as I can and learn about real estate on the side. I saved up over 15k at the time (now over 20k), and I'm looking for what I should do next.
I took all of that advice deeply into consideration and have been looking for properties to house hack, or even cheap SFHs to possibly flip in the meantime. Unfortunately, I haven't found anything yet, but that may be a blessing in disguise, because my parents have since told me that I can continue staying with them for the next few years rent free.
So, with my housing being covered, it almost makes it feel like I'd be taking a step backwards if I were to get an FHA to buy a property to house hack. So, my question to you more seasoned investors, if you were in my position, what would you do? Get a conventional 30 year fixed loan on a small MFH and rent it out? Keep saving my money until I'm 23-24 and then purchase my first real estate? Should I invest in small fix & flips? Or lastly, invest in a small shop that would allow me to own my own car flipping/repair business on the side?
Thank you all so much for your help, I love learning from all the amazing people in the BP community! Like always, feel free to get in contact with me if you are from the KC area and are looking for new REI friends!