First Investment 2026

[Jose Santivanez]

Hi Everyone,

I am a 29 M based in Manhattan looking to invest out of state. I am particularly eye-balling the Atlanta or Orlando markets for my first investment.

My long-term goal is to build a stable portfolio that will give me the ability to draw on the equity in 10+ years (sooner if possible) to pivot into mixed-use or larger commercial deals longer term.

I want to make sure that my first investment serves as a foundational learning and investment pillar, with a focus on modest cashflow and increase in appreciation over a 10 year horizon. I am thinking single family/small multi-family long-term rentals here. For my fist deal, I would think of it as a slow BRRRR, along with any immediate subsequent deals before pivoting asset classes. I essentially want to pull the equity from all these first deals to support that larger commercial deal further on, or so that is my though process right now.

Currently I have about $50k ready to be deployed for a down payment and my current income is about 180k - 200k annually. Together, my wife and I have over $350k net worth between cash, IRA, 401k, and standard investment accounts. With this financial background, I feel that we are in a place where we've built a strong foundation can start to take more risk comfortably.

Given the slow BRRR approach I want to take, if I buy a single family home (which is most likely given down payment budget), it would have to be something where I can force appreciation through an ADU or other means.

I am choosing between the Atlanta or Orlando markets because I have friends/family that live in those areas who can give me great insight on the local landscape and connect me with professionals. These markets are also manageable with my current budget (though I may need to get creative). If I had to state personal pros for either location...I lived in Atlanta for nearly 2 years early in my career, so I am generally more familiar with the landscape there. As for Orlando, I will have better connections to contractors/resources as I have family who are homeowners and have an active investment undergoing a large rehab.

Any thoughts. tips, or simple introductions would be greatly appreciated!

Cheers,

Jose

[Pierre Guirguis]

Jose, this is well-thought-out and you’re asking the right questions early, which already puts you ahead of most first-time investors.

A few practical thoughts based on what you laid out:

• Your instinct to anchor the first deal as a foundation rather than a home run is the right mindset. The mistake I see is people trying to force velocity too early instead of focusing on clean execution and learning.

• The "slow BRRRR" approach can work, but I'd be careful about relying on ADUs or heavy forced appreciation on deal one. Those strategies are powerful, but they add zoning, permitting, and timeline risk that can complicate the learning curve. Light value-add with rents that haven't caught up yet tends to execute more smoothly.

• Your reasoning around Atlanta vs. Orlando is spot on. Having real boots-on-the-ground relationships matters more than picking the “perfect” market. I’d choose the market where you trust the people, not just the spreadsheet.

• With your income and balance sheet, you actually have flexibility most first-timers don’t. The key will be structuring the first deal so it doesn’t need aggressive appreciation assumptions to work.

If you treat deal one as a controlled rep and not a shortcut to scale, it will do exactly what you want it to do: set you up for larger assets later.

Happy to share more perspective if helpful.