need thoughts from people with more experience then me

[Michael P.]

new to this and just looking for some advice guess i really i don't no where to start so any advice is appreciated bought my first house in may and thing seem to be going well so far its more of a boarding house / house hacking roommate situation with people i know for the moment plan on doing some things to up the equity but am limited on funds i know the neighbors house just sold for a bit more then i paid for mine so that's a plus and mine is nicer and in better shape i have almost no debt for the most part except the current mortgage on said house don't make much from my day job less then 3k a month after taxes and have good credit. i guess i just really need to know where to start should i be starting a LLC or something similar? should i be looking at foreclosures reo's or sheriff sales? how much should i expect to pay for my next property i know it depends on price but percent wise? can i do this with no money of my own or money down? stuff like that all advice is greatly appreciated

[River Sava]

Hey Michael - 

Congrats on buying your first house and getting into house hacking! It sounds like you're off to a great start.

For your next steps, consider starting an LLC down the road for liability protection, but it's not a must right away. Exploring foreclosures, REOs, or sheriff sales can be good opportunities, but they require due diligence and possibly some cash reserves. In terms of your next property, while no-money-down deals are possible, they're rare, so focusing on building up some cash reserves will help. Keep learning and connecting with others on BiggerPockets to keep growing your knowledge. Best of luck!