Starting Real Estate

[Paul Tran]

Hey BP community,

My name is Paul, I'm 19 years old and a freshman at Southeast Missouri State University studying Finance and Entrepreneurship. I already run a small contracting and mowing business in Cape Girardeau, MO so I'm not new to running operations but I'm new to real estate investing and want to learn fast.

I have zero interest in graduating and walking into a corporate bank job. I want to own assets, build cash flow, and create something long term. Real estate feels like the right vehicle to get there.

I've been researching house hacking as my entry point specifically buying a duplex, living in one unit, and renting the other to offset my mortgage. It makes sense on paper but I have some real questions I need the community's help with.

My questions for you:

• How much monthly revenue should I be generating before I seriously consider putting a down payment on a duplex?
• What loan products actually work for a 19 year old with business income and W2?
• How did you evaluate your first house hack, what numbers made you pull the trigger?
• What do you wish you knew at 19 that would have saved you time or money?
• Is Cape Girardeau, MO a viable market for house hacking or should I be looking at bigger nearby markets like St. Louis or Memphis?

I also have a contracting background so I can evaluate rehab costs and do some of the work myself. I'm also connected with a 20 year old agent locally who does wholesaling so I have some resources around me already.

Just looking for real advice from people who have actually done it. No fluff needed.

Thank you for your time reading this.

— Paul