What was your starting point ?

Question

I have followed, read, and listened to bigger pockets for the last 2 years while studying local South Fl market. I have saved 40k and am looking to break into the REI space. Have explored out of state, specifically NC MFDs as well as local rehabs. At 25 years old where is my energy/ investment best placed in regard to getting started and generating passive income.

Account Closed · Answer

@Nicolas Serio

I'd start by making some very specific goals. You can't formulate a plan until you know where you're trying to get to.

Rick Albert · Answer

Being in Los Angeles, I started with buying a condo and renting out the second bedroom.

I agree with CJ that you need to have a plan.

The other thing I would consider is your current living situation.  If you are renting now, then you may want to buy a personal residence and then start investing.  If you are renting, no matter what returns you are getting on other properties, the money you make now goes towards your rent.  Conversely, at least if you are paying a mortgage you are paying down a balance.  Especially as rents continue to climb.

Nicolas Serio · Answer

Thank you for the response. Short term goal would be a property purchased locally. Live in, moderate renovations, and in 2 years put myself in a position to rent the property and move forward. But to find that ideal property with good schools, commuter perks, etc. at a fixer upper price point where my mortgage allows some rental income is a tough find. At least in my locale in the last 2-3 years. But I feel that if I continue to market watch and not act, I never will.