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Updated about 1 year ago on . Most recent reply

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5
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Dakota McClish
2
Votes |
5
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Real estate investing plan!

Dakota McClish
Posted

Hello, my names Dakota! I'm 21 years old and I was just looking for some advice or a simple "your heading in the right direction" (or not). So me and my girlfriend live with her grandma right now so very minimal monthly cost, we plan on just working and saving for the next 2-3 years. Once we are ready we planned on moving out (moving to a different state) and getting ourselves a 2-4 unit property with an FHA and house hacking we figured we could break even and or make a little bit of cash flow and then continue to grow by probably re financing the first property and getting another with and FHA or just getting another as an investment property and then hopefully continue to do that as much as possible over and over again. (I know things can change and maybe we will do some short term rentals or mid term and even start getting commercial properties with lots for units, but for now our plan is to just slowly build up properties throughout the years). My main concern is I keep seeing people say real estate is dead or just worse because no cash flow or this and that(even friends and family getting in my head saying my plan is a bad idea) but we don't even plan on buying for the next 2-3 years so who knows what it will be like then, obviously we are in it for the long run but it would also be nice to make some cash flow on every property possible and I always just say even a couple hundred is good I don't even expect to cashflow thousands off each property. Can you still cashflow or can I still expect to if I stay patient and find the right deals? Sorry if this is a lot just looking for an answer on my specific plan and case, thank you!

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Replied

Man you are so young! What I would suggest is learn before you even put your money into a deal, get guidance, the right moves now, can make your future great, worrying less and less about money and have your future secured!

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