24 y/o with $120,000.00 --> Need advice

[Ethan Piani]

Hello everyone,

I’m Ethan, a 24-year-old real estate agent in the Greater Boston Area with just over $120,000 saved. I’m seeking advice on my next steps in real estate investing and would greatly appreciate your insights.

Currently, I work with landlords who use the rental buy-and-hold strategy. I am primarily a rental agent so I am very familiar with the LTR model. I’m considering purchasing a rental property in Southern New Hampshire due to the more affordable multifamily options compared to Boston. However, I’m also contemplating learning the flipping business, either by working with a flipper or trying it myself, to generate a larger cash position.

I’m open to the idea of out-of-state investing but would approach it conservatively. My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play? My income is variable but typically around $130,000 annually, with a 60-70% savings rate.

I’m just starting out and eager to learn, so any advice, experiences, or strategies you can share would be incredibly helpful.

Thank you in advance for your insights.

[Chris Seveney]

Quote from @Ethan Piani:

Hello everyone,

I’m Ethan, a 24-year-old real estate agent in the Greater Boston Area with just over $120,000 saved. I’m seeking advice on my next steps in real estate investing and would greatly appreciate your insights.

Currently, I work with landlords who use the rental buy-and-hold strategy. I am primarily a rental agent so I am very familiar with the LTR model. I’m considering purchasing a rental property in Southern New Hampshire due to the more affordable multifamily options compared to Boston. However, I’m also contemplating learning the flipping business, either by working with a flipper or trying it myself, to generate a larger cash position.

I’m open to the idea of out-of-state investing but would approach it conservatively. My primary question is: Should I focus on buying a multifamily property and growing slowly to build a stable financial foundation, even though my area would have minimal cash flow and be more of an appreciation play? My income is variable but typically around $130,000 annually, with a 60-70% savings rate.

I’m just starting out and eager to learn, so any advice, experiences, or strategies you can share would be incredibly helpful.

Thank you in advance for your insights.

If it was me I would stick with owning over fix and flip. I recommend connecting with @Andrew Freed and others in the area who run REIA's and meetup groups etc.