All Forum Posts by: Jhameel Bernadeau

If you're actively looking for opportunities and making offers you'll need that money to be liquid. Yes, inflation is eating up you cash, but making competitive offers and closing quickly is important. 

I have most of my money in Capital One 360 Performance accounts. The interest rate 0.4% (variable) but it's still way higher than a conventional bank savings account. 

Hi @Jhameel Bernadeau! So exciting that you're saving up to get started! I also agree that house hacking is a great way to break into the space. If you qualify for an FHA loan you could put as little as 3.5% down on a duplex, FHA loans also allow you to do seller concessions. They're not very competitive loans in this market right now but are great for getting started.

I would recommend meeting with a banker now to find out how much you qualify for and if you need to work on anything while saving. Once you know the loan amount you qualify for you can then start working with an agent to find properties. If you work with an investor friendly agent they’ll be able to analyze properties with you.

@Jhameel Bernadeau - Great job saving. As a general response, I would suggest learning all you can about househacking to see if that's a good fit for your goals. I've seen clients use that as a great investing stepping stone with about the same amount of funds you'll have.