Rental property investing

New York, New York
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Rental property investing

Luka Bukhrashvili
Member since 2025 · 2 posts · 6 votes

My name is Luka i am 24 and i discovered this page from book rental property investing, i came here to learn as I’m trying to save enough money to buy my first single house rental, wish me luck :) and give me advices too 

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Abel CurielBusiness Member
Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
1y
Quote from @Luka Bukhrashvili:

My name is Luka i am 24 and i discovered this page from book rental property investing, i came here to learn as I’m trying to save enough money to buy my first single house rental, wish me luck :) and give me advices too 


Hello Luka and welcome to the BiggerPockets forums!

I got into my first property in New York when I was 24 - lots of lessons learned but I don't regret it!

Advice:

- Look at small multifamily (2-4 units) vs. single family houses
- Consider the outerboroughs of NYC. Bronx, Brooklyn, Queens
- Keep saving as much as you can, keep debt low
- Tell EVERYONE you know about your plans to invest in Real Estate - friends, family, neighbors, co-workers, etc... 2 reasons for me recommending this...
#1. You never know where your next partner or investor will come from
#2. You will be surprised just how many people in your personal circle are already investing OR looking to invest in New York Real Estate 

All the best!

Abel

REbuild Team - eXp Realty5234 Reviews
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  • Jules Aton
    MD/DC · Member since 2024 · 1k+ posts · 1k+ votes
    1y

    Hi Luka welcome! If you don’t currently own a home purchasing one that needs some updates and living there while you do it generally results in lower financing costs up front and quick equity. This also gives you the option to consider selling when renovated and if you lived there 2 of past 5 years avoid taxes on profit up to $250,000/$500,000. 

    1Reply
  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    1y
    Quote from @Luka Bukhrashvili:

    My name is Luka i am 24 and i discovered this page from book rental property investing, i came here to learn as I’m trying to save enough money to buy my first single house rental, wish me luck :) and give me advices too 


    Hello Luka and welcome to the BiggerPockets forums!

    I got into my first property in New York when I was 24 - lots of lessons learned but I don't regret it!

    Advice:

    - Look at small multifamily (2-4 units) vs. single family houses
    - Consider the outerboroughs of NYC. Bronx, Brooklyn, Queens
    - Keep saving as much as you can, keep debt low
    - Tell EVERYONE you know about your plans to invest in Real Estate - friends, family, neighbors, co-workers, etc... 2 reasons for me recommending this...
    #1. You never know where your next partner or investor will come from
    #2. You will be surprised just how many people in your personal circle are already investing OR looking to invest in New York Real Estate 

    All the best!

    Abel

    REbuild Team - eXp Realty5234 Reviews
    WebsiteView Page
    3Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 952 votes
    1y

    @Luka Bukhrashvili

    Hi Luka — welcome! Big step starting your journey at 24. Focus on learning how to analyze deals, estimate rehab costs, and calculate cash flow so your first property is a smart investment. I invest in Midwest markets, where entry costs are lower and cash flow can be strong, which is great for getting started and building experience. Also, connecting with experienced investors or property managers early can give you guidance and help avoid common mistakes. Good luck, and stay consistent!

    [email protected]614-418-6081
    0Reply
  • Drago Stanimirovic
    New to Real Estate · Miami, FL · Member since 2024 · 1k+ posts · 466 votes
    1y

    Welcome, Luka! You're starting this journey at a perfect age, and diving into the community through resources like Rental Property Investing shows you’re already on the right track.

    One key piece of advice as you work toward your first rental: stay laser-focused on your numbers. Look for markets where the rent-to-price ratio makes sense (typically 1% or better), and always factor in expenses beyond the mortgage vacancy, maintenance, taxes, and insurance. A cash-flow-positive property gives you breathing room and sets the stage for scaling.

    Also, don’t underestimate the power of building your network early: agents, lenders, contractors, property managers. The right connections will save you money and headaches down the line.

    You’ve got this, Luka. Keep learning, ask questions, and when you're ready to run the numbers on your first deal, reach out.

    Wishing you the best,
    Drago

    0Reply
    • Luka Bukhrashvili
      OP
      Member since 2025 · 2 posts · 6 votes
      1y

      “Thanks so much for the advice, Drago! I’m currently working on reconstructing a house I own in Tbilisi, Georgia — deciding whether to rent it out or sell after improvements. Down the road I’m also looking at house hacking opportunities in the Philly/NJ area. your advice is really helpful — I’ll definitely keep that in mind.”

      1Reply
  • Min ZhangBusiness Member
    Real Estate Agent · Member since 2022 · 1k+ posts · 1k+ votes
    1y

    That’s awesome Luka! Saving up for that first rental really is the hardest part, but it sets the foundation for everything after. One tip I’d give is while you’re stacking cash, also spend time analyzing deals daily so that when the time comes, you’re confident in running the numbers and spotting a good buy. Have you thought about whether you’d want to manage it yourself or bring in a property manager for that first one?

    [email protected]614-412-2912
    Reafco.512 Reviews
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    0Reply
  • Kerlous TadresBusiness Member
    Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
    1y

    Hey @Luka Bukhrashvili! Start running numbers on real listings and watch local rents so you get a feel for true cash flow. Talk with investor-minded agents and property managers early, you’ll move faster when the right deal pops up. Your first place just needs solid rental demand and positive cash flow; it’s more about learning the process than finding a unicorn.

    [email protected]614-490-1163
    Kerlous Tadres | Reafco Real Estate541 Reviews
    WebsiteView Page
    0Reply
  • Mohammed Rahman
    Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
    10mo

    Hi Luka,

    Welcome to BiggerPockets!

    I’m a real estate broker in NYC and Long Island (and an investor as well), and I work closely with a lot of first-time investors. If you ever want to chat, feel free to reach out - I’d be happy to connect and share any insights that might help.

    Excited to see where your real estate journey takes you!

    0Reply
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