Young real estate investor

[Matthew Humphrey]

I’m 19 years old and have 100k in the bank. I wanna get into real estate investing young because I heard it’s a marathon but it the end it is worth it. What are some key steps I should take before considering my first rental property?

[Joel Calkins]

Hey Matthew, Great question!

This is mainly going to depend on your personal goals and what you want your portfolio to look like. There are plenty of avenues to go down in real estate and every one has its upsides and downsides. One of my favorite methods is the classic house-hack in MFRs. Having such close proximity to the unit you can monitor your investment and learn valuable insights. Most likely the rent from the other unit will pay the mortgage and put you on a path to finding your next deal with the valuable knowledge from the house hack. Another great way is the buy, rehab, rent, refinance, repeat method, or (BRRRR). There are plenty of articles on BP about this strategy.

If you have any questions feel free to PM me. Good luck Matthew!