23 year old, looking to get into RE, living on <40% of income

[Bryce Black]

All,

I'm currently 23 and looking to get into RE. I live on under 40% of my income and know some of the many advantages to RE so I want to get in early for those advantages. I have about $10k saved right now (overall so I can't throw all of that into RE haha) and can save another $1000-$1300 a month. Looking to stay in the South east US

My question is looking for general advice. I was planning to buy my first property as a form of househack with an FHA and buy a duplex or if necessary triplex to move into. I want to buy in about 10 months and I'm most interested in buying a property for me to live in to get my start in RE investing. I'm not worried about rates as of now because I plan to refinance later on if necessary bc I view this as a long term type of thing.

Does this general strategy seem wise? What are things you wish you knew before you bought your first property?

Thanks!

[Ash Hegde]

You're on the right track and setting yourself up to succeed! I would say to watch out for the trap of looking for the absolute cheapest property, and instead look for a nicer (but still affordable) area so your tenant quality will be higher and you will have more stable rent and property appreciation.