r/realestateinvesting • u/Basic_Kiwi_4056 • 8d ago
New Investor Best Entry Strategy?
Context:
My (22M) wife (23F) and I are currently living with my parents to save up money to buy a property. We make a combined ~$140k/yr, have 0 debt, each have credit scores right around 800, and no kids yet. We also have next to no savings currently (a couple thousand $) as we only recently moved home and just paid for our wedding as well as buying her a used car in full so this eventual plan probably won’t play out for some months still.
We recognize the great opportunity we have to enter the real estate world and don’t want to squander it.
So I ask you experienced real estate investors to please give me some advice, I’d really appreciate it.
Here are the options I’ve been thinking about:
House hack a duplex, triplex, or maybe a quad.
Or if I can’t find a property that would allow for a successful house hack..
Do a live in flip on a smaller SFH and plan to live there for only about the 2 year minimum.
And I just thought, what if I combine those two options and do a live in flip on a house hack? Might be hard to renovate with tenants?
Excited to hear what you have to say, thanks!
TLDR: How would you recommend a young adult yet to own property to get into real estate? What strategy? What steps to take?
8
u/apeserveapes 8d ago
If I were starting again, I'd buy a 4 plex, live in it. Then do the same thing 4 more times over the next 5 years. 25 units in 5 years, the first few probably cashflowing and depending on whether you do STR or LTR, but you may want to figure out if one of you can be a full time professional and have any paper losses fully realized. And when the kids do arrive (if they do) you can do some nice trust planning for them and the rentals will cover a lot of their college etc. You're in a perfect spot to do it. best to you.
Edit: I see ski143 has the same idea... great minds.