First Investment Property

[Zachary Hayes]

I’m 21, living in New Jersey with my parents, saving about $2,000 a month, and not in a rush to move out. Given that I have low overhead and time on my side, what would be the smartest first real estate investment move I could make to build long-term wealth

[Kerlous Tadres]

Quote from @Zachary Hayes:

I’m 21, living in New Jersey with my parents, saving about $2,000 a month, and not in a rush to move out. Given that I have low overhead and time on my side, what would be the smartest first real estate investment move I could make to build long-term wealth

You're in a fantastic position at 21 — low overhead, high savings rate, and time on your side. That’s a rare and powerful combo.

Since you're in New Jersey (a high-cost area), your smartest first real estate move might be out-of-state investing in a cash-flowing market. Look into cities with strong rental demand, affordable prices, and landlord-friendly laws — places like Columbus or Cleveland, OH, parts of Pennsylvania, or the Midwest/Southeast in general.

A few smart moves to consider:

House hack if possible – If you can buy a multifamily (duplex/triplex) and live in one unit while renting the others, your tenants can help cover your mortgage while you gain experience as a landlord.

Out-of-state turnkey or BRRRR – If you're hands-off, look for a turnkey provider. If you want to build faster equity, the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) might be a great fit, especially with your savings stacking monthly.

Partner up – You could also consider teaming up with someone more experienced to learn the ropes while minimizing risk.

Start networking now — join local or virtual real estate meetups, BiggerPockets forums (you're in the right place!), and connect with agents or investors in your target markets. The education and connections you build today will compound massively in the long run.

You're doing it right — keep saving and learning, and you’ll have options. Let me know if you want a few markets to research!