Best advice for a novice investor needed

[Sergio Dorval]

Good morning everyone, 

it's been a year since I last showed up here, looking for  advice from investors with proven success records in real estate. I took your advice but was too timid to take the first step and dive into the investing world. However, now I am ready but still need your guiance and mentorship. The following is my current financial profile in a nutshell: 

Credit Score: 709

Cash in hand: 50K

Salary : 74K

Monthly living expenses: $1500.00

Debt: None

Residence: New York City

Marital Status: Single, no kids

What would you do if you were in my situation? What RE investment strategy would you advice me to take? Any suggestions will be greatly appreciated. 

Sergio. 

[Corby Goade]

Hi Sergio-

I give everyone the same advice- what I wish I had done, house hack. Buy a multi family that needs a little sweat equity, 1-4 units via conventional financing, live there for a year or two then move out, rent out your unit and do it all over again.

You didn't include your age, but If you were to do this a few times, be patient and buy smart, it's entirely feasible that you could "retire" after a few years. Obviously there is much more to learn and consider in this oversimplified scenario, but that is the road I would start to head down. Best of luck!