Be responsible, build up that down payment or if you have someone that believes in you and they will be willing to gift it to you that's an option.

My plan is to do a few fix & flips and move over to the BRRRR strategy to build up my portfolio.

My plan is to do a few fix & flips and move over to the BRRRR strategy to build up my portfolio.

I've been looking at ways to save money so that I can build up my capital, and I came up with the idea to possibly rent out the spare 2 bedrooms in my house.

I just went through something kind of like this in KIng County, in Washington State, and I used a firm called LT Services in Seattle, which is a subsidiary of a law firm.

However I recommend that you first find a location you want to invest, and then build up a network there.

It depends on your location, size of property, purchase price, nightly rate you can get, your upkeep of the property, and many other factors.If your unit shows well in photos and if you build up some good reviews in the first months, and your pricing is reasonable, it will be consistently rented.We have 3 of them, and all less than 1 year so the jury is still out, but in our experience so far, the startup and ongoing costs have been higher than expected, but all are getting good reviews, so in year 2 (now that they are stable) we expect to do pretty well.You have to make sure your town allows it, and you have to decide if you will manage it yourself and take on that extra work (communicating with the guests and people who will clean/make repairs) or if you will hire a property manager, which can be expensive, upwards of 25%.

@Matt ScallionsFlipping can be a good way to build up your cash reserves.  

How can I build up my credit rating from 0 asap?

How can I build up my credit rating from 0 asap?