Best strategy for first time investor

[Matthew Sipes]

I am a young investor and have been doing my own research on the topic and even got a job at a private lending firm so that I can learn even more, but I feel like I am ready to actually jump in and get in the game. I have a little more $20,000 in liquid assets and I live in California, so I have decided to go out of state. What I really need help with is choosing a strategy. Most of my research has been geared toward the BRRRR method. Does anyone have any tips or pointers that could be useful for me. I am always open to learn more especially from people that have already done what I am attempting. Thank You!

[Alexa Ferguson]

Hey, Matthew! One of the best strategies to get started in real estate investing is house hacking, which is essentially renting out part of your property. I know you mentioned investing out of state, but house hacking where you currently live is a great way to get in the game while you are still building your liquid assets. I currently house hack in Denver, renting out the basement of my house as an Air Bnb, and typically cashflow between $500 and $1,000 per month after expenses. Air BnB is one great option, but you can also rent by the room long term if that would work better for you. A great place to start is to pick up "The House Hacking Strategy" by Craig Curelop to learn more about the process. Happy to answer any questions!