Seeking advice starting out as a 21 yr old (Starting from just me)

[Xavier Perera]

Hello, I am a 21 year old embarking on my journey into real estate, specifically focusing on multi-family properties. As a six figure earner, I am seeking advice and insights from experienced real estate investors on strategies and best practices that were valuable when starting out! My goal is to purchase my first property between now and mid to late 2025. I look forward to connecting with like minded individuals and expanding my network within the real estate community!

For general insight towards my income, I make about 180 K a year . I work in the oilfields and plan on doing it for maximum 5 years to get the capital to become a full time real estate investor. I’m all ears! I’ve read a couple books but I am always willing to learn… Also if you were 21 , what would you have done differently? And if you were me what do you think would be best to start out with? I’ve been looking at 4 plexes but I don’t know if I should just start with a duplex first I can’t decide on which one…

[Nathan Gesner]

Quote from @Xavier Perera:

Aim for a four-plex. You can live in one unit and rent out the other three. You can even rent out the spare bedroom in your unit. After 1-2 years, rinse and repeat. You'll have a small empire by the time you are 30.

However, being a landlord involves a lot more than just collecting checks. You must learn to manage the property well. Educate yourself on how to handle marketing, screening, late rent, lease violations, etc. Most landlords wait for a problem to land in their lap, then they waste a ton of time thinking, worrying, researching, and bleeding money before they ever take action. I've seen investors lose tens of thousands every year before they finally get serious about learning how to manage.