Can I get started in real estate with $20k

[Wilhelm J. Lieto]

Good day BP members,

I live in one of the most expensive areas in Northern Virginia (NoVA). I work in D.C. but only make enough money to afford a place 40+ minutes away. Currently I live with my family in Alexandria but they are moving soon and I'm not going with them. I haven't been with my current job too long, and was broke before I had this job so savings is minimal at best right now.

I own a 2007 Corvette C6 which I paid off about a year and a half early, due to my current living situation and job. KBB assessed it at about 20K and I've been completely against selling it, till recently.

After my long winded introduction, my questions for you all are:

Will the 20K be enough to start investing in real estate in my area?

What is the best course of real estate investing in the NoVA area?

What other kind of guidance would you recommend?

I am open to any and all advice from everyone! Thank you for your time and I look forward to what you all have to say!

[Christopher Lightner]

Definitely look into house hacking. You could use your VA loan to buy up to a quadruplex with no down payment, live in one unit and rent out the other three. After a year you could use an FHA style loan to repeat this process with a low down payment + PMI and have up to 7 units rented plus one that you live in.

If you found a property tomorrow and took a month to close, you could have 7 doors 13-14 months from now. And you could do it with $20k.