20 years old... should I invest out of state? Live in Denver now

[Mateo Steele]

Turning 20 in 2 months, wanting to get into real state. I live in Denver and the prices for the houses here are sky high. So should I invest out of state as my 1st rental property? What strategy would you recommend.

[Craig Curelop]

@Mateo Steele - Welcome to BiggerPockets Mateo! Typically the best strategy for someone as young as you are and just starting out is house hacking. 

You can 100% do this in Denver and you can do it quite successfully. I am going on my fourth house hack, all of which cash flow me over $1,000 per month. I am not some anomaly, I know dozens of others who have also achieved similar returns in Denver. You just need to get a bit creative. 

The strategy that works well is finding a single family and renting it by the room. You will get the price of a single family home while getting rents of a duplex or triplex. Really hard to lose with this strategy. 

Happy to chat more about it if you'd like!