What do you mean by RE property? A primary residence, or an investment property?
If you were or a family member was in the armed forces, USAA and Navy Federal Credit Union are offering 5% down, no PMI, at sub 3% rates. Amazing deal.
Otherwise, first-time homeowners can get an FHA loan, with 2.5% down, but PMI. Rate is going to be above 4.5%. My close friend did this, did a bunch of the work in his house by himself, then got it reappraised. Based on the sweat equity, he was able to get the loan-to-value below 80%, thereby releasing him from PMI. He and his wife eventually sold the house for a $200K profit in four years. They only put down $20K total at the beginning and replaced the windows, so their return was still astronomical. All of the sudden, they went from no nest egg to $200K. They moved down to Dallas and bought a house with very little debt with the sales proceeds. They are now moving on up.
I'm sure Ramsey talks about this, but for most people, owning a home is the most surefire way of increasing your wealth.
I purchased a condo when I was 34 and lived there until I was 39. Value went up $150K while I lived there, and the monthly P&I plus taxes/ins. was still less than a monthly rental payment. Now I have a renter in there paying all the bills, amortizing my mortgage, and I still net $1,500/mo. The condo has probably appreciated another $100K since I left b/c of the 'rona.
If you want ideas on side gigs, I would highly recommend reading the e-books and blog posts at Wall Street Playboys. They really spell it out what you need to do, and definitely don't sugarcoat it. I'm older so it was a little too late for me to take their advice, but you probably still have time. Their focus is starting an online business.
And it's an amazing feeling to be handed the keys to a house that you own. I'll never forget the night I walked into my condo after the closing and realized that this is mine, and I can do with it what I want. Go for it!
