21 y/o with $25,000. What would you do?

[Scott Tangney]

Hi!

I'm 21 years old and graduating from college with a computer science degree in 12 months. I have $25,000 in the bank and have the ability to move anywhere to work after college. I can live near Chicago with parents for free, stay close to school (Indianapolis), or move anywhere I want in the United States. I plan on house hacking my first property and then BRRRR-ing thereafter. My W-2 job will pay near $85,000 pre-tax when I start.

The question is... if you were in my shoes, then what would you do? What would you study (books, articles, blogs) in the next 12 months to form a strong foundation? Where would you want to move to get started in real estate?

[Tony Angelos]

@Scott Tangney Bias may be here because I'm from Chicago, but I suggest moving home after college and live for free at first. Any way you slice it, you can't lose and it gives you room to actually look for a deal. Househacking is a great idea, but you have to remember that you also need to live there as it's not purely an investment looking at the numbers; which is why I say taking the time to actually look for something is key. PLUS, 25K is unfortunately not a lot of money. Realistically, you need money for closing and stuff so really you can use like 12-13k for downpayment which can buy you a property for under 375K if using an FHA loan.

I highly recommend listening to the Straight Up Chicago Investor podcast and specifically the episode with @Brie Schmidt. She answers a LOT of the questions you have in great depth.