*Calling all experienced millionaire real estate investors*

[Account Closed]

If you woke up tomorrow, and you were 22 again, but had to start all over with only $40k in your pocket, netting 30k/yr managing commercial real estate, without a degree, a spouse or children, what would you do?

(By the way, you still know everything that you know now about investing in real estate.)

[JD Martin]

Originally posted by @Account Closed:

Live frugally, value every dollar, makes saving money the priority over spending money. Work hard at your job try to move up the ladder. 

Eventually find a duplex or fourplex to house hack. Once all four are renovated and rented and stabilized keep on saving until you can buy your next project.

In Detroit I’m guessing it’s something along the lines of buy for 30k, rehab 10k, rent for $800.

Network a lot to find a good team for leads on deals, reliable trades people, etc.

That’s my 2 cents

 Almost precisely what I would do as well. Take all savings, go into a 2-4 unit building. Live in the worst unit, fix & rent the rest, move out of my unit & rent it, rinse, repeat. You could do the same thing with SFHs if there's no multi where you are: buy a wreck, live in it while you rehab it, move out and rent it, live in your van or on your parent's couch until you get your next unit, rinse, repeat. 

I've done pretty well in life but I'd be 5x further than where I am now if I had concentrated on buying investments first instead of homes to live in first.