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Updated over 1 year ago on . Most recent reply

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John Derbyshire
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New to real estate looking to learn as much I can

John Derbyshire
Posted

Hello,

I am currently 21 years old making around $50k per year. I am able to comfortably save 50 percent of my income for investing, while I am young I would like to start learning about real estate and how it could potentially lead to financial independence in the next 10, 20 or even 30 years. Particularly I'm interested in house hacking. I have seen all of the YouTube videos about "How to retire by 30" but they all seem way too good to be true. I appreciate any and all help this post receives. 

Thank you.

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Ray Hage
  • Investor
  • Fort Lauderdale, FL
735
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Ray Hage
  • Investor
  • Fort Lauderdale, FL
Replied

Welcome to REI! As a younger guy, you got a couple of options. I am assuming since you are able to save half you're income, you may be living at home with parents/family for free/reduced rent. In a case like this, keep saving money and put enough away for a decent downpayment.

Buy a home bigger home and live with room mates as a house hack if you're comfortable with that. Something like a 4/2 maybe so now your have 3 room mates pitching in. You can do the same with a duplex (live one side with a room mate and completely rent out the other side). I am about double your age and still house-hack but I probably wouldn't if I had a family so do this now while young and put a lot of money away for more investments.

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