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Allan Branch
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Young Adult + 1st Property + Buying Early

Allan Branch
Posted Apr 17 2024, 16:00

Hey, my wife and I own a variety of properties… warehouses, single family homes, self storage, commercial buildings, multifamily etc.

My son is turning 18 in December. He’s probably going to end up going to a trade school, get a real estate license, work with a local contractor to become a building contractor.

What are your thoughts about buying a property early in your life? Obviously we could help him with a down payment and cosign if needed.

What would you buy?  What loan would suit the purchase

In my early 30s, I often wished my parents had told me to buy a house at 18. Not necessarily for the cash flow, but to purchase it early while prices are suppressed and built equity to later use. Well and the depreciation would have been helpful. In theory we could buy a house with him and rent it for ten years and break even, pay the debt down, build credit, and later maybe he lives there. Who knows.

Another option would be to buy a small parcel and slowly build a house with/for him and pull owner permits.

Am I nuts?

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