Recent College Graduate Interested in Remote REI

[Zachary Wallis]

Hi all, 

My name is Zach, I'm a 23 year old recent college graduate looking to begin building a rental property portfolio as young as possible. Now working full-time, I've saved up enough for my first downpayment (looking to put 20-25% down in the $25k range). I would love to hear any advice from experienced investors on how to begin this journey, including tips, tricks, or any mistakes to avoid.

As I live in NYC, I am likely going to have to invest out-of-state/remote so would love to hear any thoughts regarding that as well. I've looked into some turnkey companies as well, like Rent To Retirement or Roofstock, and was wondering if these would be a good starting point for a new, remote investor -- or if I go through the process of finding a "boots on the ground" team of my own? Really appreciate any insight and excited to join this community!

[Zach Lemaster]

@Zachary Wallis there is no perfect way to start Zach.  The most important thing you can do IS start!  Definitely investing out of state is likely a must for you.  House hacking could be a way to invest with $25K down locally (that is how I started).  The midwest has some price points that may also work if you are interested out of state.  I like TN, OH, MO & IN.  Make sure to stay in better locations if possible.  Having a quality team/mentor/community to help you avoid the most common mistakes for newbie investors would be very valuable in my opinion.  Just make sure you always have good reserves!  Keep us updated on your progress Zach!