Owner Occupancy the way to start out?

Question

I am a 20 year old kid who wants to own at least 50 properties one day but I know that I need to start out small and slow. As a college student, I always figured I could start out as an owner occupant to start owning a few properties in my 20's but after that what is the best way to accumulate property? Just an ambitious kid trying to find his way in the real estate game. Thanks for any advice.

Robert Smith · Answer

Owner occupancy is one why, finding a home that needs work and putting sweat equity into it is something that many people start out with. The home could later be used for the equity to purchase more property or sold and the funds used to purchase more homes. One way you could start now is by wholesaling properties or bird dogging for other investors in your area to find deals, use this money to purchase homes or to fund the repairs with other investors. Starting your business now would give you the credit and history of your company that you could use in the future to purchase homes with loans made out to your company. Leverage and other peoples money is the best way to get more properties with the least out of pocket. It can be done and be done quickly if you stick to your plans.