Young Investor Seeking Advice
Hi all, I'm Shea. I'm 20 years old and currently own a Duplex in Racine, Wisconsin. I'm actively searching for my next investment and would appreciate any advice from seasoned investors and developers. What strategies do you recommend for scaling my portfolio? Send me a message – I'm eager to learn!
Most Popular Reply
Welcome Shea. Congrats on owning a duplex at 20—that's very impressive! For scaling your portfolio, consider house hacking another multi-family property to minimize living expenses while building equity. The BRRRR method (Buy, Rehab, Rent, Refinance, Repeat) could also be a great strategy to recycle your capital.
To find deals, try direct mail campaigns targeting absentee owners or distressed properties, or go driving for dollars in neighborhoods with strong rental potential. Networking with local wholesalers and real estate agents who specialize in investment properties can also lead to off-market opportunities. Online platforms like Zillow, PropStream, and Auction.com are worth exploring, and don’t forget to check out local real estate groups for deals and partnerships.
Since you're in Racine, the Rental Property Association of Wisconsin and Milwaukee REIA are great resources for networking, finding contractors, and learning about funding opportunities. Maybe we'll cross paths at a meeting!
Keep crushing it, and feel free to reach out if you have questions—excited to see where your journey takes you. You've already got a fast start.