20 years old with $6000 and no job in SoCal.

[Gabriel Guerrero]

Hey everyone,

I'm a 20 year old living in Southern California. I really want to start investing in real estate. My initial thought/plan was to look for a multi family home, live in one unit and rent the rest. That way my tenants would be paying my mortgage and I could save up and purchase another multi family property a year or two after. My only problem is that I don't have an actual job. I'm a student so I've only worked part time jobs and I am currently not working due to the virus. This is a problem because I doubt a bank will loan me any money without having stable income. Is there any ways around this?

I have been researching seller financing and I think that might be my only route.

My girlfriend is an LVN making close to $3500 a month and is willing to help any way she can. Will that be of benefit at all? Will a bank take that into consideration?

Can anyone with any suggestions or tips please help me out?

Thank you so much.

[Tanner Johnson]

@Gabriel Guerrero

Coming from a 19 yo investor take this with a grain of salt.

Especially being in your 20s I would focus on being autonomous. Your first focus should be getting a stable income from a job. Once you have that accomplished then would be a good opportunity to house hack but you have to get your career on track first.

And until you say your vows I would keep your girlfriend out of it. It would get very messy if things go wrong.

I hope someone a bit older and wiser than I chips in. This is just my objective view as a peer to you. Figure something out career wise before you think about RE investing, even with a house hack your taking on a pretty big risk without another income and you may have trouble getting banks to loan to you.

As I said I would definitely talk to your girlfriend about it, but I would try to stay independent because if you go in together and something happens it would get very messy. Good luck