I’ve been looking into real estate investing for a while now, but I’m struggling to find my first property within my budget. I have a small amount of capital to start with, and I’m honestly not sure where to even begin.
I’ve considered flipping houses or looking for rental properties, but both seem like huge undertakings, especially since I don’t have a ton of experience yet. I’ve heard about the benefits of investing in certain markets, but the local prices here are pretty high.
Has anyone else been in a similar situation, where you had a limited budget but still managed to find a good deal? What strategies or types of properties worked best for you when you were just starting out?
Hi Lana
It depends what you want your investment to do?
Are you looking to produce income which could be done via rental properties or you maybe looking for capital growth from a portfolio of properties.
Each of the above needs a different strategy.
Let me know if you have any further questions.
Dave
I’ve been where you are—tight on capital, overwhelmed by options—and I can tell you it’s absolutely possible to get started with the right approach. My first deal came from targeting “as-is” properties others avoided, using creative financing like seller carrybacks when bank loans weren’t an option. House hacking a small multifamily (living in one unit, renting the other) helped me learn landlording with minimal risk. When local prices were too high, I looked in nearby towns with better cash flow and less competition. Deals don’t always show up on the MLS—some of my best came from networking at meetups or through contractors. The key is knowing your numbers cold, being persistent, and staying vocal about what you’re looking for. Start small, stay scrappy, and treat the first deal as your foot in the door.