23 Year old man from Michigan

[Alex Petroski]

Hello everyone. I hope you are all doing well today.

I just joined not more than 5 minutes ago, didn't even know about this website until 15 minutes ago when I was watching a YouTube video. Excited to get around it and explore/learn new things.

My dad is involved with real estate as a side thing and from what I've seen over the years its a great tool to generate income/alternate income stream. Its cool that hes involved and willing to help, but I want to do some things on my own as well. 

I currently work the classic 8-4 job making about $25-30k a year, and its fine. I don't mind the work and its very laid back. But "fine" isn't what I want. I want things to be amazing, glorious, I have goals and ambition and simply cannot sit here for years doing nothing but looking at a computer screen day in day out doing the same things HOPING to receive more pay. Screw that. This is temporary and I will make sure of that. The faster I can get started in this, the less time will be spent here at my J.O.B (we all know what means)

I need some help though. First things first, I don't have much cash. I just recently got the job (about 6 months ago), so I'm not sitting on much right now. I don't have any debts to pay or much bills to cover, my expenses are very low thanks to my amazing parents. 

So how do I go about in the real estate world with low cash? Where do I get started? What should I learn about first? Is this even possible with low cash? Any and all help is much appreciated. Thanks and again I hope everyone is having a great day.

[Jake Thomas]

Welcome to the site. I might suggest picking up a second job to accelerate your savings for that first property. You only need 3.5% down for an FHA loan from a lender for your primary residence. Keep reading and researching on this site to see how others have used this to start their investing. Some people use the low money down technique to house hack a multi family property (search the term on this site) and others use it to do a live in flip.

So many options with so many possibilities. Good job on staying out of consumer debt, keep it that way and investing will be much easier.