24 y/o with $120,000.00 --> Need advice

[Ethan Piani]

Hello everyone,

I’m Ethan, a 24-year-old real estate agent in the Greater Boston Area with just over $120,000 saved. I’m seeking advice on my next steps in real estate investing and would greatly appreciate your insights.

Currently, I work with landlords who use the rental buy-and-hold strategy. I am primarily a rental agent so I am very familiar with the LTR model. I’m considering purchasing a rental property in Southern New Hampshire due to the more affordable multifamily options compared to Boston. However, I’m also contemplating learning the flipping business, either by working with a flipper or trying it myself, to generate a larger cash position.

I’m open to the idea of out-of-state investing but would approach it conservatively. My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play? My income is variable but typically around $130,000 annually, with a 60-70% savings rate.

I’m just starting out and eager to learn, so any advice, experiences, or strategies you can share would be incredibly helpful.

Thank you in advance for your insights.