How did you get your start in real estate investing?

[Walter Fabiszewski]

I got my start in real estate investing unintentionally when I was about 24 years old. I was a bartender in Connecticut and making very good money. I decided it was time to “become an adult” and buy my first home. I had a very good friend and coworker who strongly suggested that I look at multi family homes so I could live in one and rent out the other unit(s). Although I wasn’t completely shut off to the idea, I had bigger plans for myself and wanted a modest single-family home, with a yard where I could entertain and impress my friends.  After speaking with the real estate broker my friend recommended I decided to look at and eventually purchased a duplex in a decent but not fancy neighborhood. I lived on the second floor and rented the first floor to a couple of college kids. Little did I know what an impact this would have on my life. Not only did one of the tenants become a lifelong friend (25 years and running), but my monthly living expenses were only $200 a month. About six months later when I got a roommate I was actually cash flow positive about $400 a month. This allowed me to save almost all of my income. A short time later when I moved to New Jersey I purchased a small condominium with all of the money that I saved. I rented both sides of the duplex and was supplementing my income nicely. A few other incredible opportunities presented themselves and because I was saving money hand over fist, I was able to take advantage of them.