Advice for A 22 Year Old

Bridgeport, West Virginia
Starting Out
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Advice for A 22 Year Old

Aidan Morris
New to Real Estate · WV · Member since 2023 · 1 post · 1 vote

I am a 22 year old living in North Central Wv. I am a Master Electrician and also have my real estate license but that is mainly on the side or for my own deals. I currently own 1 property which is my primary residence. 

My first deal I borrowed money from family to purchase a property at a foreclosure auction for $35,000, I put in around $35,000 into the rehab (I did most the work myself), and it ended up appraising for $172,000! I cashed out some of the equity to pay off the money I borrowed and got a Line of Credit on the remaining equity. This is my primary residence and love the location.

I want advice on what you would do next or any tips you have for me moving forward in order to scale. I don't know if i should do a deal similar to my first one and just buy a fixer upper then move into it and keep the current one as a rental property. Or if I should just buy an investment property and turn it into a rental, I have also been looking into some multi family units for the cash flow.

Let me know what you think thanks!

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Michaela Hayes
Flipper/Rehabber · Philadelphia · Member since 2024 · 42 posts · 20 votes
9mo

You’re in a great spot. Here’s the simple version of what I’d do next:

  1. Do another live-in fixer (like your first deal) if you can. It’s the easiest financing and you already proved you can add value.
  2. Best move: buy a 2–4 unit and live in one unit while renting the others. That gives you cash flow and experience fast.
  3. Keep your current house as a rental only if it cash flows after you budget for vacancy, repairs, and maintenance. If it won’t cash flow, consider selling later and rolling that money into a better rental.
  4. Use your LOC as a tool, but keep cash reserves (at least 6 months of expenses) so you don’t get stuck.
  5. Focus on 1–2 deals per year and build a small team for the stuff you don’t want to do.

If you tell me what rents are like near you for a 2–4 unit, I’ll help you pick the best next deal type.

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  • Tron Pham
    Investor · Atlanta · Member since 2025 · 14 posts · 3 votes
    9mo

    Congrats on your first deal! 
    Real estate/investing is broad. Figure out your financial goals, create a strategy to get you there, work toward it. You can do flips, wholesale, rentals, subto, RE agent duties, lease options and then there's commercial RE. 
    They're all hard starting out. Joining the right community can propel you. 
    Best wishes 

    0Reply
  • Michaela Hayes
    Flipper/Rehabber · Philadelphia · Member since 2024 · 42 posts · 20 votes
    9mo

    You’re in a great spot. Here’s the simple version of what I’d do next:

    1. Do another live-in fixer (like your first deal) if you can. It’s the easiest financing and you already proved you can add value.
    2. Best move: buy a 2–4 unit and live in one unit while renting the others. That gives you cash flow and experience fast.
    3. Keep your current house as a rental only if it cash flows after you budget for vacancy, repairs, and maintenance. If it won’t cash flow, consider selling later and rolling that money into a better rental.
    4. Use your LOC as a tool, but keep cash reserves (at least 6 months of expenses) so you don’t get stuck.
    5. Focus on 1–2 deals per year and build a small team for the stuff you don’t want to do.

    If you tell me what rents are like near you for a 2–4 unit, I’ll help you pick the best next deal type.

    1Reply
  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    9mo

    If you like your current location, stay there and buy another property to fix up and rent out. 

    0Reply
  • Bill B.
    Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
    9mo

    It’s all about you and your personality. If I had your skills I would certainly be looking for another property to do the same.  I’d buy it as my new primary residence. (Assuming you’ve been in your current home over a year.) and then I’d probably sell the current home tax free unless. 1) I didn’t think I’d be able to keep finding fixer uppers. 2) The cash flow was EASILY beyond $10k/yr.  

    My thinking is you’re going to lose at least $30k to taxes if you keep it as a rental and ever sell. That means you’ll be a landlord for more than 3 years for free before keeping it makes you any money.  Assuming no major problems with the property or the tenants. It’s just too hard for me to turn down $100-$150k every two years tax free.  Unless you hated doing it. Then of course ignore everything I said. And incase nobody in your real life will say it. GOOD JOB. 

    0Reply
  • Ethan ColePro Member
    Rental Property Investor · Bridgeport, WV · Member since 2020 · 42 posts · 13 votes
    8mo

    It really depends on what direction you want to go, what phase of life you're in, and if your significant other is on board. No pint in trying to buy a deal to house hack if you have 3 kids, and your wife hates the idea. For me, I would stay in your current place, and buy another to do the same thing. There are tons of properties in WV that have deferred maintenance that you could fix up. We buy only multifamily right now, but essentially do the same thing. We just bought a 7 unit for $225k and we're paying a contractor $150k for a complete rehab. ARV is $500k. We did a 10 unit that we bought for $189k, put around $115k into it, and it appraises at around $600k. Send me a DM if you have any questions. We invest in WV, and we've lived in several areas of the state. Good luck!

    0Reply
  • Bo SmithPro Member
    Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
    8mo

    Nice first deal! That $102k equity pop is solid. One thing I'd add - since you're 22 with trade skills, consider timing your next purchase around tax season when you get that big W2 write-off from your electrical work. Buy the fixer as investment property in Jan/Feb when you have cash flow, rehab through spring, then rent by summer peak season. What's your timeline looking like for the next purchase?

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