18 years old, 50k cash, what would you do?

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Priority 1 is to maximize your earnings potential. Work your a$$ off, live off of nothing, think long tern, and delay gratification. Whatever you did to earn 6 figures in summer sales...do more of that. As for picking up a property, turn off your brain, stop making assumptions about what you can or cannot do and start talking to lenders. Figure out your options and go from there. There's a great Charlie Mungor quote that I always refer back to - "It takes great character to sit on cash." There are worse things than sitting on cash in the bank and waiting for the right opportunity. I do think that your first property needs to be a house hack. I'd vote for a single family home, rent out spare bedrooms option given the price point where you live.

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Hey Nicholas! First of all, congratulations! Hard work sounds like it's paying off. Getting into real estate there are a few thoughts:1. Househack:With good credit and $50k available, getting into a househack could be a great way to decrease your living expense while also getting a property under your belt. You might be right about the inconsistency in income and that could possibly impact your ability to qualify. Would you have a relative/family member who might have sufficient income and could possibly be a non-occupying coborrower for you? This way you could still buy it as a primary residence, but use their income and/or the rents from other units to help qualify.2. DSCR:Now this might not make sense in your market, but you could possibly use a DSCR loan to help get an investment property. Downpayment requirements are generally 15-20% minimum, so it may limit the properties you would be able to find. With that said, the benefit is that there is no income verification (no paystubs, tax returns, W-2s). You would potentially qualify based on the property's rental income.3. Creative Finance/WholesalingAs you mentioned, if you're nailing those summer sales you may be able to transition those skills into real estate with creative finance or wholesaling by going direct to sellers. Whether doing direct mail, door knocking, or cold calling you may be able to find off-market properties and negotiate terms with the seller that work for the funds you have available.

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My vote is for house hack as well. number 1 bang for your buck starting off

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Have you thought about JVing with someone? I'll bet there's someone else in a similar situation to yours who needs a partner for one reason or another. Even if that partner was a co-signer and then you flipped it together, it would be a learning experience with an opportunity to make some cash for the next deal and so on. Read the book 'Who Not How' by Dan Sullivan. Once you stop focusing on HOW to fix your problem and focus on WHO can fix/help with your problem the doors of opportunity open up! You don't need all the answers, just find someone who does have the answers. Attend some local meetups and ask if anyone needs a partner. Tell them what you have to offer and then tell them what you need. It's that simple.Good luck to you. The fact that you are 18 and starting out with this mindset tells me you will be going places. Network whenever and where ever you can to find the WHO'S you will need in your journey.

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@Nicholas Stevenson None of the advice here so far is helpful to you except for maybe what @Deb S. stated about owing a junior partner on a deal.First, let me explain why the above advice is not helpful, and the. I’ll tell you what will be more helpful.House hacking would be great, however, you wouldn’t qualify for the loan because your income is inconsistent and you likely don’t have several years of tax returns to show a banker your income track record. So that’s out. Getting a DSCR loan could work, but you still need income history and a track record for most banks otherwise you would get crappy loans when most loans are already crappy right now. So just think, more crappy.I would encourage you to create an LLC with an experienced investor and buy a house with your 50k with an experienced investor. This would require networking with other investors in your area that are actively investing. After you have taken 10-20 out to lunch and paid for their lunch, call back 1-3 of them and ask them if you could partner with them on a deal they have going. Preferably a deal where you could get your money back quicker (6-12 months). Observe the process. Ask questions. You could also be a private money lender on a deal. Make sure your cash is protected by vetting the deal, and having a deed of trust on the asset.I have done this with several people. I’m not saying this in any way for solicitation, but rather as evidence that this approach is an effective approach. I have helped my oldest 4 kids each buy houses in LLCs as my partners all being under the age of 18 with no credit or experience. The two oldest own 3 each, my 14-year-old owns 2, and my 9-year-old owns 1. I don’t say this to brag, I say this so you know that it can be done. Good luck to you. Let us know how it goes.

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I don't know Salt Lake City that well so some of my recommendations may not be appropriate1. First thing I'm going to recommend is you move the money in the Roth 401K to a Self-directed IRA. As the name suggests you direct where the IRA invests. Keep contributing to it & eventually, you'll be able to use it for Tax-Free Real Estate Deals2. Network and find a successful fix and flipper. Invest a portion of your $ in one of her projects and learn everything you can. You may want to take a portion of your $50K and establish your LLC. Then the LLC partners or lends on the deal. Why do I recommend the fix and flipper- so you can learn the ins and outs of evaluating the ARV- cost to renovate, the sell,.....3. Network and find someone successful in your market who is raising capital for a buy-and-hold deal. I would not commit all $50K to one deal but maybe a portion. You'll be a fractional owner. The real objective though is to learn. 4. Set aside some of the $ for a campaign to target property owners who own their properties free and clear or with very little left on their mortgage. They are the ones most likely to consider seller financing or lease options. Before you do this make sure you have the right systems in place to respond to inquiries and understand the type of contracts required along with the laws in your state5. Network and establish a relationship with someone who has a steady consistent income and a similar interest in Real Estate. You bring some $ and good credit. They bring the W2 that may be required for certain loans6. Research if any real estate agencies specialize in working with investors. Then consider getting a license and joining that agency. As a realtor, you can partner with investor clients.7. Regarding house hacking- With inconsistent income, you most likely won't qualify for a loan, but you can put this in your toolbox once you have steady income and eventually be able to qualify.

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@Nicholas StevensonFirst and foremost, congrats on your efforts and development in learning about real estate! It's remarkable how proactive you've been in your schooling and money management.Given your age and the fact that you do not have an income that is consistent, creative financing may be a smart option for you. Here are some strategies to consider:Seller Financing: This is when the seller acts as the lender and you make direct payments to them. It's a negotiating point that may be especially appealing to sellers looking for new methods to sell their property.Lease Option: You may want to explore a lease option, in which you lease the property with the opportunity to purchase it later. This allows you to stabilise your income and save more money while still maintaining possession of your property.Joint Venture: Working with someone more experienced or financially secure may be a possibility. They might provide the funding, while you contribute your talents and experience.Continue educating yourself on creative financing alternatives. The more you know, the more prepared you will be to build transactions that benefit both you and the seller.Remember to consult with a real estate professional or financial advisor as you explore these options. Real estate can be complex, and having expert guidance can be invaluable. Good luck!