St. Paul Minnesota · Member since 2026 · 3 posts · 5 votes
Hello everyone:)
As you seen I’m turning 18 (in about 4 months) I live in St. Paul mn and I’m looking into house hacking and eventually owning at least over 100 units.
I have my GED and am talking/working with my local union about getting into the laborers union the day I turn 18. My plan is to geat a steady income and buy a fourplex.
eventually owning atleast 3-5 triplexes/fourplexes and hiring a part time property manager, with my skills I learn from the union as long with the people I meet I could have contacts for repairs that might come up.
the main reason I’m posting is to hear if my plan sounds like it could work from people who have experience, so if you have any ideas or have suggestions please tell me.
On the financing side, house hacking a fourplex is the right approach when you're just starting out, but you'll need to get your lending ducks in a row before the union income starts flowing. For an FHA loan on a 2-4 unit property you need at least 3.5% down with a 580 credit score, but most lenders want to see a two year work history in the same line of work. Starting a new trade at 18 means you might be looking at a year or two before you're bankable on paper.
Use that time. Get a credit card now, use it for gas and groceries, pay it in full every month. By the time you have the income history to qualify, you'll also have a credit score that isn't thin-file territory. The financing piece trips up a lot of young investors because they assume income is the only thing lenders care about.
@Colten Keeler, congrats on starting a plan and having aspirations in real estate and life. A few thoughts:
1. Its great to have some BIG goals, they help keep us motivated, BUT don't let the BIG goals distract you either. So, now that you have thought about BIG goals over the LONG term, focus on all the things you need to do now and in the SHORT term to work towards that.
2. With any kind of real estate investment strategy there is a LOT to know and you are starting from the ground up. So, continue with education.
I would even suggest taking the classes required to become a real estate agent. You don't have to actually become an agent unless you want to, but the classes give you foundational knowledge that you can build off of.
3. Learn to analyze deals. Even start on paper. Write down all the income and expenses for a rental property you see advertised and that you think would be a good potential house hack. Make sure you budget for things like Cap Ex, Vacancy, and Maintenance. I think you are going to see that it doesn't look as fast and easy as you believe.
4. Don't let yourself get down by #3. Real estate is like pushing a ball down a gentle hill.
When you are house hacking, you are putting a SMALL down payment typically meaning that you are only giving that ball BARELY a nudge because you are putting VERY LITTLE into the deal.
So, what happens?!? The ball barely moves forward to begin with, BUT it moves forward...
With a house hack deal with small down payment you might make a few little cash-flow or even none while you occupy one of the units. You are paying down VERY little on the mortgage at the start. So, the ball is moving forward but SLOWLY!
Eventually when you are able to save enough to get into a 2nd house (likely from savings from your job), then the ball starts to pick up speed.
Eventually 10-20 years from now the ball is rolling full speed. You have cash-flow, mortgages are half way paid and being paid off faster, and you have noticeable market appreciation.
BUT, the start of the process feel excruciating because it takes a while for that ball to get rolling. Focus on what you need to learn and do to get through that part and not give up.
5. To add onto #4, real estate is not a get rich quick scheme. Time does a lot of the work. A marginal deal often turns into a nice deal over a chunk of time.
One of your BIGGEST advantages going in IS TIME! Ask any investor and most will tell you how much more they could have made STARTING SOONER.
So, just getting started and sticking with it is a BIG advantage. So, don't focus on 100 units and big goals quite yet. Focus on knowing it isn't going to be fast and easy and that starting and sticking with it is what will eventually pay off!
6. That said, if you want things to go faster you can start thinking a little about how to do that. Most ways you can make things go faster involve putting "more" into a deal.
With a house hack you typically buy a rent ready property with a SMALL down payment. So, you put only a little into the deal.
With a BRRRR or flip you put not only money but also the effort into rehabbing the property into the deal in addition to the risks associated with those efforts. So, this rehab work sometimes called "value-add" or "forced appreciation" grows things faster!
Starting with a house-hack is great but if it helps you keep motivated learn about these other strategies so that after you have more experience you might consider them yourself.
It’s absolutely a reasonable plan. Love that you’re going into to the trades as well. Will be an in demand profession for years to come.
I think this is a reasonable plan. If you could amass 3-5 multi family properties by 30, I think that’s realistic without being overly aggressive. Of course, you could scale much quicker but time is on your side
On the financing side, house hacking a fourplex is the right approach when you're just starting out, but you'll need to get your lending ducks in a row before the union income starts flowing. For an FHA loan on a 2-4 unit property you need at least 3.5% down with a 580 credit score, but most lenders want to see a two year work history in the same line of work. Starting a new trade at 18 means you might be looking at a year or two before you're bankable on paper.
Use that time. Get a credit card now, use it for gas and groceries, pay it in full every month. By the time you have the income history to qualify, you'll also have a credit score that isn't thin-file territory. The financing piece trips up a lot of young investors because they assume income is the only thing lenders care about.
On the financing side, house hacking a fourplex is the right approach when you're just starting out, but you'll need to get your lending ducks in a row before the union income starts flowing. For an FHA loan on a 2-4 unit property you need at least 3.5% down with a 580 credit score, but most lenders want to see a two year work history in the same line of work. Starting a new trade at 18 means you might be looking at a year or two before you're bankable on paper.
Use that time. Get a credit card now, use it for gas and groceries, pay it in full every month. By the time you have the income history to qualify, you'll also have a credit score that isn't thin-file territory. The financing piece trips up a lot of young investors because they assume income is the only thing lenders care about.
Yes 100% agree with this. Get a FHA mortgage for your financing. Move into one of the units for a year and learn how to manage the other 3 units. FHA can do low down payment to keep your funds to close minimal!
@Colten Keeler I AM SO PROUD of you! I agree! Start small, get prepared for your goals! LEARN LEARN LEARN! AND GET SUPPORTIVE PEOPLE WHO UNDERSTAND your goals (and KNOW more than you) in your circle! It's a great move starting here! SO PROUD of you! QQ: Will they not allow you to add a picture because of your age?
@Colten Keeler Congrats at thinking about this at a young age. You have time on your side to help you grow! The best piece of advice I can share is to lean into delayed gratification. Do not go buy the brand new car and or rent the fancy apartment downtown. Do things that you peers are not willing to do and you will be so far ahead quicker than you think. Fell free to reach out if you have any questions as you start down this path. Good luck!
I must say that is a good plan: begin with a 3–4 unit in St Paul, building a steady income from unions is a common way for many investors to get started. Also you should try to save some money for your FHA. Putting 5% down and learning to be a landlord early, then using the money you earn to buy another property every year or two. Keep up the good work with your money and connections; you're doing great as you aim for 100+ units.
That’s a solid plan, especially at your age. As a Realtor in Minnesota, my main question would be: where are you planning to live? Fourplexes in the suburbs can get pretty expensive.
You’ll also want to be mindful of rent control if you’re considering a property in St. Paul. I wouldn’t rule out duplexes or triplexes either, they can be great options and are often easier to find. Fourplexes are more limited in supply, so if that’s your goal, patience will be key.
That’s a solid plan, especially at your age. As a Realtor in Minnesota, my main question would be: where are you planning to live? Fourplexes in the suburbs can get pretty expensive.
You’ll also want to be mindful of rent control if you’re considering a property in St. Paul. I wouldn’t rule out duplexes or triplexes either, they can be great options and are often easier to find. Fourplexes are more limited in supply, so if that’s your goal, patience will be key.
Feel free to reach out if you need anything!
Thank you so much. I was thinking about around shoreview would be a good place to start, with the high rental demand. I didn’t know fourplexs were that limited though so thank you!
@Colten Keeler , my son Matt Swierczek, is also 18 and is planning a similar path to you. PM me and I can connect you. He has another friend thinking the same thing, and you guys could start a young investors group. You can also start attending local meet-ups with other investors. BP does not allow us to post competing links, but if you PM me, I can send you links to some local meet-ups.
I used to live in Shoreview. Multifamily properties are hard to come by there. There is a duplex in Mounds View right now. Let me know if you need any help finding one.
We interviewed a guy on our podcast today who house hacked his way into a 50 unit portfolio, not every unit was a house hack but the first 4-5 deals were the bedrock for his eventual scaling. If you can get real hands-on construction skills, live frugally, and house hack one multifamily deal at a time, this is very doable.
Make smart purchases, buy in areas you are comfortable with, you’ll be just fine.
Hi Colten! Turning 18 and already mapping out a full plan like this! that’s awesome. I’m Amit, owner of Casanomy PM in the Chicago suburbs with 30+ years in the game, and I’ve watched plenty of young guys start exactly where you are.
Your plan is solid and very realistic.
Joining the Laborers Union first is one of the smartest moves you can make — steady paycheck, great benefits, and the skills/contacts for repairs will save you a ton of money down the road. That income will make it much easier to qualify for an FHA loan on a fourplex (only 3.5% down if your credit is decent).
Start with the fourplex house hack in St. Paul. Live in one unit, let the other three cover most (or all) of the mortgage, build equity, and learn the business hands-on. Once you’ve got that under your belt, adding 3–5 triplexes or fourplexes over the next few years is very doable. Then you can bring in a part-time property manager and keep scaling.
Quick tips from experience:
Get pre-approved with a lender as soon as you have a couple months of union pay stubs.
Focus on decent neighborhoods with strong rental demand (check current St. Paul numbers — fourplexes are moving and rents are solid right now).
Build a small reserve fund from day one — even with union income, surprises happen.
You’re thinking long-term and starting smart. This path works. If you want to bounce specific numbers, neighborhoods, or what to look for in your first fourplex, just shoot me a message — happy to give you the same straight talk I’d give my own guys.
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