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Updated almost 7 years ago,
Advice needed: 21yr old starting off
Hello everyone from BiggerPockets,
Since this is my first post, I'd like to give you a little background of myself. I am 21 years old, living in Ohio, looking to get into real estate as young as possible. I am on my last semester of school until I get my associates degree in Automation Engineering. I also have a job lined up after school where I will be making 70k a year(salary without tax) this upcoming spring. I have been heavily researching and listening to podcasts while I work my part-time job and also when I make my drive to school. My goal as a real estate investor is to eventually quit my full-time job and earn a passive income through real estate. Anyways, I'm here to get any advice from experienced people. As I am a newbie to real estate.. I have several questions hoping the BP community could lead me into the correct direction.
Since I am securing a pretty well paying job with zero debt, I am curious on how I should go about purchasing a rental property. I want to focus on a single family home a first and try the BRRR strategy, Im not sure if I should wait and save up to buy my first property in cash, or to finance a property with 10% down on a 30 year loan and buy multiple. Like I said above, I want to replace my income with real estate, I am just trying to find the best path to go about this and the fastest way to add properties into my portfolio.