Hey BiggerPockets!
My name is Justin Phillips and I am an aspiring real estate investor from Houston, Texas, however I currently live in Atlanta, Georgia. I own and operate my own e-commerce business (active income) and Instagram marketing agency (passive income) that are both doing very well and have given me the ability to save a decent amount of side money this year. I am most interested in buy and hold single family/multifamily properties (multifamily is my preference), but I'm having trouble with deciding what to do for my first deal, so let me tell you all a little about my situation:
1. I have about 75k saved up and expect to have 100k by year end
2. I don't believe I can get loans because I have outstanding student loans that are currently in forbearance as well as debt that isn't mine but is in my name which is throwing off my debt to income ratio (thanks mom lol)
3. My mother is a broker in Houston and is willing to do my property management for 6%
4. I am a go-getter that is willing to work for free for a local mentor if necessary to gain knowledge (haven't found one yet but I won't stop attending events and networking until I do)
5. I have no experience with rehabbing/flipping (learning daily from YouTube University haha)
With all that being said, what do I do?! Do I find a partner that can get loans and put down payments on multiple properties? Do I use the 75k as a down payment on a bigger multifamily deal? Do I buy something cash and start smaller? Do I start in Houston although I'm not there or start in Atlanta where I live for my first deal? Do I house hack something? Do I go to the tax deed auctions? Someone help! haha
Thanks in advance,
Justin
