Advice on Starting out at 21 years old

[Dave Smith]

Hi all,

I am looking for advice on trying to figure out the most financially efficient way to get into real estate investing. I am an automotive mechanic currently making just shy of $30hr. I have about 35k saved up due to still living at home. I live in Eugene Oregon where the average home price is about 470k. Small duplexes in need of work appear to be obtainable for around the high-300s to mid-400s.

As a first property I am leaning towards a multifamily home, likely a duplex due to my budget. I am trying to decide between doing the BRRRR method while living in one half and renting out the other or building a duplex from the ground up. I am a handy person who would be able to perform much of the home renovation myself. On a new build I would be able to do some of the work post framing. The process of building a new home is relatively intimidating but I have heard that in Oregon it can be cheaper to build than buy.

All advice is greatly appreciated. Please let me know if there is any information that I have left out that would be helpful.

[Josiah Kellerman]

Hi Dave, I'm a local real estate investor and Licensed Real Estate Broker in the Eugene/Springfield area. My wife and I bought a duplex 18 months ago in Springfield and did that strategy that you mentioned. I would be happy to talk or meet-up to talk about our experience. It's amazing you are already thinking about this at 21.