Investing in real estate with a low income

[Adrien Veres]

First of all, i will like to introduce myself. My name is Adrien, i'm a french / american, i have dual citizenship.  I was born in the US, but lived in France my entire life. 

I left everything to try out America, but the life in california is so expensive... I'm currently having a very low income, 14$ per hour. But i managed to save drastically. I eat very cheap food ( Canned food & frozen vegetables), i live in my dads house so i don't have to pay rent, i just help with water, electricity bills, buy my own food, help doing tasks in the house.

In two years i managed to save 30 000K.

The most important part ( you will understand later), is that i miss Europe freedom, since i moved to the US, i feel like there is less freedom here, less rights citizens & worker rights, less protection in jobs, extremely expensive medicine, extremely expensive insurance ect. 

Huge difference on vacation time aswell, in the US 2 weeks paid vacation, in France 5 weeks, 12 days of RTT, plus 16 banks holidays ( if you had everything up its a total of 2 months in a half vacation per year. ) Plus if you are sick you still get paid while your home , if you a prescription from the doctor...

I also miss the lifestyle, bringing beers to the beach with my friends, bars that dont ask your ID, activities, Europe is so small that you can go to one country to another so easily and travel cheap ( Bus to go to Spain, Train to go to italy ect ).

There is also some magnificent places in the US, i'm in love with San Francisco, Yosemite, Grand Canyon, Mont Whitney, San Clemente , San Diego ect But we have such a low numbers of days for vacation here, that i can't do much.

I was going to go back to France, but the economy is so bad right now, that i won't find a better job anyway.

My ultimate goal, is to be financially free. After searching all the ways to obtain freedom, i realize that the best way was real estate. You can do so much, i started reading about it, and just fell in love with this theory, that buying several houses that produce cash flow, gives you a semi-passive income. That's just perfect ! I could be living anywhere in the world, have a good property manager in every states i'll invest and don't have to worry too much, right ? So here i am, i subscribed in BP moving further in the process.

I planned to travel a bit everywhere, in the US, in europe, in asia , australia ect, i wanted to find a job and work locally to get extra money, added to a passive income from real estate to help me out.

My plan is to obtain from 3000$ to 5000$ in net semi-passive income in . So i can work in any job in the world while traveling, even if it is a low paying job, i will still have 3000$ Coming each months .

I'm going to need some help from experienced people, as i explained, i have a low income, and a small capital to invest. Is there any places you will recommend me to invest ? ( 30 000 $ in bank, i can borrow another 30 k from my grandpas retirement but will have to pay him back, and earn 24 000$ a year). I have an excellent credit score, 730. I have absolutely no experience at all in real estate, but i'm very interested and motivated.

I'm looking to either put everything in one multifamily house in a appreciation area, or get two cheap houses in cheap areas like Memphis, Detroit ( i know its risky, but its the best cap rate i've found), somewhere in Florida ?...

Does someone have any idea of how i can start investing ? & Where ?

I was thinking to not use the cash flow, and keep it in the bank, so i can reinvest the cash flow in another property. I give myself 2 years for 3000 $ or 5 years to get 5 000 $ Net income.

If you have any questions please do not hesitate. I'll be glad to answer them.

In hope that someone will help me realize my dream.

Best Regards,

Adrien