Is real estate investing going to give me what I want?

[Rafiq Elkiki]

Hello my name is Rafiq, I'm a sophomore doing my undergrad at NYU. Over the past 6 months I've dedicated a large portion of my free time to educating myself as much as possible on real estate investing. I've come up with a simple plan for when I graduate and hopefully acquire my first job. I plan to save a large portion of my paychecks and live at home with my parents. I plan to utilize an FHA loan, the BRRR strategy, multi family properties to build my wealth. Obviously since I'm 19 I don't have any serious money saved up. I'm willing to put in as much work as possible to reach my goal of 200 units by 30 years old and quit my original job out of school. From all the podcasts and articles I've listened to and read I want to know for sure if my success is likely, or these are just one in a million stories that I wont get to see.

[Lumi Ispas]

@Rafiq Elkiki, congrats on your big goal. It is doable. After doing a number of transactions, you might decide that 300 units with low profit per door might not be as good as 50 units with high profit per door.

For now, you can buy your first building with a 203K FHA loan and actually do a BRRRR strategy by finding a building that after it's remodeled its value goes up 25% above purchase price + rehab. Rehab it, rent it out, refinance from the FHA loan and do it again!

This way you'll reutilize the money and start adding cash flow to your income and start getting great tax deductions. Hopefully after a few years, from all the savings, cash flow, and depreciation you'll start having higher down-payments and start building your portofolio both ways: as owner-occupied and investor and accumulate properties faster!

Good luck to you!