Fundamentals for Rookies

[Joshua J Pierce]

Hey BP community.

I am interested to hear the various personal opinions regarding initial steps in the world of assets, specifically property, for a young entrepreneur with a consistent income outside of RE Investing.

Buy ASAP? House Hack? Single Family with an FHA just to get your feet wet? Screw it and move to Bali? Just put it all on Tesla stock, hoping you own on Mars!?

I personally live in an apartment in California, looking to transition my rent payment to an equity payment on a property, as I currently understand this is much more logical, provided my scenario. Agree? Disagree? I'm aware this is subjective, but am anxious and thankful ahead of time to hear the various opinions!

I appreciate your time and thoughts,

- Josh

[Matthew Porcaro]

203k - buy a duplex, tri, or quad. Live in it until you have enough equity to refinance. Move out, rent all units.

Use new rental property for HELOC to use as downpayments for more BRRRR's. Rinse and repeat!

Literally the exact strategy I started with and it's been a great journey since.