Advice on purchasing first house hack deal

[Justin Mendoza]

Hello investors, my name is Justin, I am 24 year old college student located in Florida. I am just starting out in my REI journey and plan to house hack for my very first deal. So my question is, after reading Brandon turners "the book on investing in RE with no and low money down" and Scott trenchs "set for life", should I fund my first property using a fha loan or save enough money for a 20% down, or does that solely depend on the deal itself? Is there a better route between the two for my first? I currently live with my parents and have a w2. My goal is to land my first deal in the next 6months or sooner if possible. Another question I have is what is some advice for finding my first deal? Should I contact a local real estate agent in my area?

[Shawn Mcenteer]

Hi @Justin Mendoza this depends heavily on your market trends and what you are comfortable spending. FHA is tough to win offers with right now, I am getting clients under contract with FHA but conventional clients are winning much more of the time. With that being said I strongly suggest to my clients finding low money down conventional financing. 5 & 10% down conventional loan exist for sure with SF homes and they do as well for owner occupied MFR. Most of the time keeping liquid cash in your pocket will benefit you the most. Low money down, keep liquid cash, use liquid cash to renovate.