What Would You Do? 20 Year Old In Need of Some Advice

[Richard Hayes]

Hello, my name is Richard. I'm 20 years old and am in need of some advice.

I have graduated from college this year and have been studying real estate investing for a while now and feel like I should jump into it. I am blessed to have 40k dollars in my savings and my dad is going to pass down one of his real estate properties to me. His property is a multifamily worth around 600k (completely paid off), consists of 4 houses, and is being rented out for 1,000 dollars each. I am currently looking into the Phoenix area and want to invest in some more multifamily properties.

As of right now, I have three ideas on what I could do:

Idea #1- Refinance my dad's property and buy an apartment complex altogether. Saving my 40k dollars in my savings.

Idea #2- Buy a multifamily property using the BRRRR strategy. Spend most of my savings as a down payment. Not refinancing my dad's property and collecting the 4k cashflow per month (covering any expenses and repairs for the BRRRR).

or

Idea #3- Use the 40k from savings as a down payment. Do the BRRRR strategy on a multifamily. Refinance my dad's property at a minimum (enough to cover expenses and repairs). (Or vice versa. use my savings to cover repairs while I use the refi for the down payment).

Please let me know what you think. I am open to any thoughts and ideas. God bless!