New Member: Recent College Graduate

[Anthony Nguyen]

Hello biggerpockets!

I am 23 year old recent college graduate and have approximately $50,000 dollars saved up with no debt. I am currently working and make around $50k per year. I have very low living expenses and want to start investing in real estate as soon as I can. I was thinking about purchasing a rental property or two but my ultimate goal is to buy a beach house, or at least a $400k house.

What would be the best way to invest my money or accomplish my goals?

Thanks

[Mike Sattem]

Hey Anthony,

Being just a bit farther down the path than you (26), I wish I would have bought a multi-family to start my career as an owner occupied dwelling. Buy a duplex or triplex and live in one unit as a great way to get in to a property for low down, that way you can save most of your savings for a down payment on another property. Fast forward a couple years and you could have two nice multi-family properties with great rates and very little out of pocket as you move into your "forever" house, and that's if you stopped investing after your first two purchases.

One other reason I like this plan, my wife would not be ok with moving into a duplex or triplex now, however at your age she would have been ok with it as we were just getting started. So, I had to start backwards and buy my forever house with low down and great rates, and had to spend all of my savings on investment properties.