Consider partnering with your parents to co-sign a mortgage or exploring creative financing options like FHA loans or private money lenders.

Even Airbnb would be an option but I'm starting to feel like I need a partner who knows what they are doing to guide me.

Hi All,My investment partner and I are currently conducting some early research on strong areas to purchase a cash flow rental, likely in late 2023/early 2024 (our first foray into real estate investing).

Except for the financials, he and his partners had no involvement with the property or day-to-day dealings.

partners. 

You could do that for 3-5% down.. live in it for a year to meet typical requirements for use… then move into a new house, and ‘voila’ - you bought your second (multi-family) rental for 3-5% down instead of 20-25%.It is entirely possible though that you will face debt to income issues on your first rental if your lender wants to see a year or twos worth of rental history before counting your rental income to offset your debt payments…so beware of that.Otherwise you may have to look at creative financing… maybe bringing in a money person where it was a short term investment for them, like “I’ll give you 8% on your money (versus the 4-5,% you could earn from the bank CD) if you will partner with me on this purchase.”

I also found a more experienced investor to partner with on this deal so it was a great way to learn and prepare myself for owning my own property.

As an investor and agent here, I have partnered up with top national designers that make the process turnkey for my clients and ensures them a top performing product.

Also, if you have a partner(s), get a good operating agreement that outlines financial liabilities to limit your personal cash input.

You are also welcome to reach out to my partner Matt Harris who invests full time and is a REA.