$45k saved at 25! Should I buy multi?

[Michael Cavitolo]

Hello All! Looking for some advice!! 

My girlfriend and I are both 25 years old, we have a little over $45k saved up together, It’s been a dream of mine to invest into Real Estate. We want to get engaged and get married In 2 years then buy a house. If it was up to me, I’d really like to find a duplex or 4+ multi family unit and start our portfolio now.. But we’re not sure if we should start it now or wait till the big events happen first. I just don’t wanna keep pushing real estate off, I want to dive In already..

Also, is $45k even enough to invest? Thanks y’all!

[Dave Poeppelmeier]

@Michael Cavitolo Yes, great to hear that you want to start investing. I will echo what others in this thread have said: Try to house hack a duplex farther away from where you currently live if your 45k will be enough for a down payment on a duplex or buy a fixer-upper FHA with your $45k, live in it a year, find a new one, rent out the old one. The other option would be to find properties in markets like Ohio, where here in Toledo you can get a nice duplex that cash flows well for $100k.

But the other thing that concerns me is you and your girlfriend have $45k saved. Before you two buy anything, she needs to be The One and fully committed with you in this investment journey. The last thing you want to do is have the courts decide who has to pay out who if you guys split. If you insist on proceeding, I would set up an LLC that clearly outlines how you two would exit the partnership if things don't work out. Not trying to be Debbie Downer, but I've seen it happen before.

You're on the right track though, I wish I was doing this at 25! Good luck!