I am 22 and Committed to purchasing first rental property

[Christapor Mikaelian]

Hello, I’m new to bigger pockets and new to this form of investment. 

 I am a young guy with an undergraduate degree in International business making 60k a year in orange county California. 

i cannot afford a lot, let alone property in my local market. I debating between getting a turn key property investment and the BRRR method. I have made some good stock trades and always been a saver. I have saved roughly 57k in liquid cash. It is currently in a high yield savings account.

I want to invest and begin this journey while working my full time job. I’m willing to stay up late and put in the extra time to make a profitable venture. I want to do this because my mom has given me everything and she has recently become mildly disabled and I cannot afford to help her pay her debts and I know she’s going to have more coming up. I need to start helping her within the next 2 years before she becomes fully disabled. 

I know I am young and Nieve at 22 looking to do this. That is why I'm here as a young guy who is probably extremely cocky and over confident, what should I look out for in starting this journey and should I get a turnkey property or go with the BRRR method.

Thank you for reading through and I appreciate any advice or criticism. 

[Noah Corwick]

Hi Christapor, 

I really admire your story and why you are looking into investing in real estate. Being proactive and helping your mom really is amazing. 

I am an investor and real estate agent in Phoenix, AZ. AZ's overall rental market is a bit rough at the moment to find any cashflow. A combination of prices rising tremendously and the high interest rates make it difficult. BRRRR'ing in AZ is tough at the moment as well. Without finding an off market deal or doing a major rehab/addition, it will be a difficult strategy to pull off.

Overall, cash flowing from day one might be a tall order. However, if you feel you have two years to work with, that definitely helps. 

Having said that, AZ is a hot market and has very strong landlord laws (in favor of the landlord). I find that a lot of California investors generally do well investing in AZ, but it takes patience and a strong team to find the right deal and execute.  

Hope this perspective helps!