So I’m Andrew, a 28 year old college student who a little over a year ago was basically broke. However watching the stock and oil markets for some time I was able jump on once-in-a-lifetime prices, and, with various forms of borrowed capital contributing, I’ve essentially gotten a 10x return to date on my own money, and expecting that might double again over the next year or two before I’ll call it played out and be ready to shift to something else.

So I’m wanting to get into real estate. I set the audacious goal of going from a net worth of $100k by the end of the year ($70k right now) to $1m in 5 years — wanting financial independence soon as reasonably possible. I live in Eugene, Oregon, but would be willing to invest out of state (not sure the west coast is the best beginner market at present) and I’m not opposed to spending a year or two waiting for the right deal — after all this last one was 15 years in the making for me.

Biggest limiting factor is that it’s unlikely I’ll have predictable income between now and my first mortgage. I imagine I could find people to partner with easily enough if need be. Biggest advantage is I know how to take my time and wait for the perfect opportunity as seen above.

So a few thoughts come to mind as far as how best to play this: 1) I might try to find a super good deal that I can house hack in the Eugene area (thinking a 4 room house subletting to students) so I have free rent while finishing up school and a super good return on a FHA loan and build out from there. 2) I could just start, say, picking up $100k duplexes in north Florida, perhaps several next year (don't intend to buy anything this year regardless), 3) I could wait for one perfect big multi-family unit to pick up and sit on for a couple years before 1031ing into something bigger and better.

I’m curious if anyone has any suggestions as to one play over another, or other points I might wish to consider.

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Hoping for a 10x 5 year return, willing to take my time.

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