Starting Real Estate

Branson, Missouri
General Real Estate Investing
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Starting Real Estate

Paul Tran
Member since 2026 · 2 posts · 1 vote

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

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  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    6mo

    @Paul Tran

    I think your contracting background has become your main advantage. I believe the best starting point for you is house hacking in Cape Girardeau because you already know the local real estate market. From my experience most important advice I can give you is to avoid doing too many repairs on your first property. You should start with basic work to find tenants who will help your business grow.

    Good luck!

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    0Reply
  • Paul Tran
    OP
    Member since 2026 · 2 posts · 1 vote
    6mo

    Thank you for your advice Wale!

    0Reply
  • Mitch Messer
    Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
    6mo

    Hi @Paul Tran, I received your DM, but I can't respond on this platform.

    My email is on my BP profile page. Reach out to me and let's chat!

    0Reply
  • James WachobBusiness Member
    Real Estate Broker · Memphis, TN · Member since 2015 · 1k+ posts · 891 votes
    6mo

    Hi @Paul Tran! You’re way ahead of the curve at 19. Having a business, contractor skills, and already thinking about house hacking is a strong combo.

    For income, there's no magic number. Lenders care more about consistency and documentation. If you've got 1–2 years of tax returns showing stable income (W2 or business), decent credit, and low debt, you can qualify. Many first-time house hackers use FHA (3.5% down) or conventional loans (5% down). The key is proving income and keeping your debt-to-income ratio in check.

    When evaluating your first house hack, keep it simple:

    -Rent from the other unit should cover a large portion (ideally most) of your mortgage

    -Budget for vacancy, maintenance, and repairs

    -Make sure you can comfortably afford the payment even if something goes wrong

    Cape Girardeau can work, especially since you’re local and have boots-on-the-ground advantage. That said, smaller markets can have lower rent ceilings and less demand. Bigger markets like St. Louis, or even Memphis, tend to offer stronger rent-to-price ratios and more consistent rental demand, which can make scaling easier over time.

    Biggest thing I’d tell my 19-year-old self: don’t overthink it! Just make sure your first deal is safe and sustainable. Don’t chase perfection, but don’t force a deal either.

    I’m a real estate agent based in Memphis and work with out-of-state investors building rental portfolios. If you ever want to compare what deals look like in a market like Memphis vs. your local area, or just run numbers, I’d be happy to connect and help.

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