Hey, Everyone; I have started seriously looking into investing in real estate the past few months after listening to Bigger Pockets while commuting to work and seeing how much it has changed people's lives. I no longer wanted to have a single source of income. I am 24, graduated college last year, and have worked in the tech sector for over a year. My current goal is to save a good amount of cash to start looking for a home around Monmouth County by mid/end of 2024. I am also thinking about investing out of state since home prices are pretty high in NJ, and it seems finding cash flow is a bit tough around here. For now, I am just trying to be a sponge and soak up all the information I can get.
Eventually, My main goal is to look into finding a multi-family or SFH to live in for a year and then rent it out. For the multi-family, I was thinking of using a conventional loan since Fannie Mae now has that 5% down for multi-family units. This would be a better approach, I think, since FHA has PMI (MIP) but also since it's harder to get sellers to accept FHA right now.
I am primarily targeting short/mid-term rentals around the Shore. Any tips/advice would be great!
