New member from Duluth, MN

[Evan Trang]

Hi Everyone,

I'm Evan from Duluth, Minnesota. I moved from NYC a year ago. My partner and I made the move to save as much money as possible for the next couple of years to invest in real estate. We are currently renting. The standard of living here is much lower than NYC and we hope to save $100,000 in 3 years to invest. We want to go the owner-occupy route in a multi-family to start. We don't know where we want to live and invest yet. We are sure that we don't want to live here long term. We are just saving money and educating ourselves about real estate investing in the meantime. My plan is to invest in an owner-occupy multi-family with an FHA loan, and use our savings to fix and flip for liquid capital to buy more properties for rental. Rinse and repeat. One of my concerns is having so much "skin in the game". Should I leverage the fix and flips with loans or use our own money to save on points and interests?

Any suggestions would be greatly appreciated.  Thank you.