First Real Estate Purchase

[Nicholas Icard]

Hey everyone! My name is Nick Icard and I'm a newbie here at BiggerPockets looking for some advice. I am a 22 year-old soon to be college graduate (May 2021) with $10-$12k. I've been trying to decide what my first step in real estate should be. I've talked to a couple of people and I've thought about some form of a house hack using an FHA loan, but I would love to hear as many opinions/options as possible before I dive in. Thank you and I'm excited to be apart of this awesome community!

[Jonathan Greene]

You need reserves also and that's really all you have so far with the 10-12k. To buy you need a downpayment (3.5%), money for inspections (1k), and reserves (6 months) plus closing costs (2-4%). So I would keep earning and banking and start leaning more and more about house hacking which will likely be your best first endeavor.