28 years old with $30,000 cash

[Violet Barnes]

Hi Everyone, I am so excited to have found this great community!

I have been interested in Real Estate for all of one week. What really captivates me is the concept of passive income, of course,  land ownership has always been a goal for me personally, but while my expenses are low and my responsibilities minimal, I would like to set myself up for future success. I spend 8 hours a day in a cubical, and I don't want this to be my life...

A little about me:

I just completed my MA in Music Business.

I work full-time on a 50k/year salary at a music tech company.

I was lucky enough to be able to save up 30k in cash. 

I live in, and want to purchase in the very expensive California Bay Area market.

720 credit score, no loans or credit card debt with an exception of 50k in low-interest Federal student loans (Currently in grace.)

So HERE is my question to all of you knowledgeable and wise real estate investors! Imagine you were me (But with all your advanced Real Estate knowledge of course), what would be your very first step? How would you utilize $30,000 to create future opportunity for profit in real estate?

My first thought was to pay off my student debt, but if there is a possibility to do something more valuable in the long run I want to know! 

PS. Currently reading Brandon Turner's The Book on Investing in Real Estate with No (and low) Money Down as well as exploring the education available on this site and Youtube. May take a community college/online course.

THANKS IN ADVANCE!

[Chris Sellers]

Violet,

Great to see your enthusiasm.  You're in a good spot with a steady income and $30k saved up.  

If I were you, I would look for a property in your price range ($250k or so) that you can live in + generate rental income.   A duplex would be perfect, but a 3br where you can get a couple room mates could work too.  

Try and find that where you want to live, but you might need to move to an area more in line with your current income so you can build wealth now and live like a queen later ;-)

Good Luck!

Chris