What would you do in my shoes?

[Daniel Weir]

Hello BP,

I'm new to this website and I'm new to real estate investment, kind of. I'm here hoping to learn and maybe one day contribute. Thanks in advance for any advice.

I say "kind of" new to real estate investment because while I've never owned an investment property I've been interested in the idea for as long as I can remember and I have owned my own home.

I'm posting this today to gauge where I stand with my current circumstances and to ask what you would do if you were starting out under the same conditions.

I have no debt. I don't pay rent. Besides food and my truck insurance none of my monthly expenses are critical. I have about 12000 dollars in the bank and I have a steady job making around 55,000 a year.

While I don't have any debt, I also don't have any collateral. My truck is the only thing I own of significant value.

My goal is to start investing in single family rental properties. Buy and hold , and just keep growing my net worth. My plan would be to use property managers on all properties from the beginning. I have no interest in dealing with tennants.

Where would you start? What are the advantages and disadvantages to my situation?

Thanks!

[Brian Simpson]

House hack find a duplex, triplex etc. Get preapproved and find a realtor that will work with you and find the right property in the area you want. Learn to deal with the renters and understand what you're paying for before you hire a property manager. Its important to know everything you can and theres no better teacher than experience in my humble opinion