$5M+ Portfolio by 30

[Account Closed]

Hello everyone, I'm a 22-year-old just starting out in real estate and seeking advice from others beyond my current network. I'm also getting started in commercial real estate sales in the San Francisco area and have established some significant goals for myself.

Primarily, I aim to grow sales and generate $1M+ in my mid to late twenties (I have a plan and coach, but I won't list it here as I am focusing on the investment aspect). I intend to leverage my income as a tool to build my own real estate portfolio, valued at $5M or more by the time I'm 30, with the ultimate goal of growing it to $50M or more in my 40s. While I acknowledge these are ambitious goals, I have a clear understanding of why I aspire to achieve them.

Several friends and mentors of mine have net worths north of $100M, and, most importantly, they achieved it on their own. I've received a lot of advice on starting out and scaling, recognizing that everyone has their own opinions... I believe these goals are attainable in this business with sacrifice and hard work.

Currently, I plan to maintain low living expenses as I live alone (totaling $25K yearly), focusing on expanding sales, increasing income, and venturing into out-of-state property investments within the next two years. I am actively engaged in networking and building a team of lenders, etc. Importantly, I'm not looking to invest in a syndicate or flips; my focus is on multi-family and retail properties for long-term growth. I see this as a long-term game plan, envisioning a future where I won't have to work much or at all.

I'm curious to hear what others think. A friend of mine, who started in CRE at 23 (now in his mid-40s), was able to commit fully to working and was able to achieve a high level of success in his late twenties and early thirties. He suggested my goals are too low, encouraging me to aim higher given my age, being single, and having the time to learn and accumulate wealth. I appreciate any feedback, opinions, or advice. Thanks.

[Nicholas L.]

@Account Closed

what if you house hacked in the Bay Area and moved every 1-2 years for the next 10 years, turning each property into a rental as you went?  moving this often is a huge pain, but this would get you a multi million dollar portfolio of real estate, and you need to live somewhere.

this would also not preclude looking into multifamily - you could do both.