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Updated almost 5 years ago,
What strategies would you recommend to a young, new investor?
I have heard a few different strategies for younger people when they first start investing and I'm curious what people think is best, and their reasoning behind it. I am in my early 20s, have a pretty good paying job and minimal expenses. I'm unsure of how to create a longterm plan for my RE Investing. I just got preapproved and am finally looking to purchase my first property. Some say to focus on long term appreciation and don't worry about cash flow as much (such as the brrrr strategy) Others say to maximize cash flow right now. My plan is to buy and hold as many multi-families in MA and transition into bigger deals over time. I am not trying to get too ahead of myself, but I am trying to have a clear picture of my longterm plan and strategies. I want to increases my net worth and annual income as much as possible. What should I focus on most? To anyone who has more experience and has successfully accomplished this, what worked for you and what would you have done differently? Thanks for all who take the time to reply.