Closed on my first investment property at 19 years old!

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Closed on my first investment property at 19 years old!

Nicholas Schwarte
New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes

At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!

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Wale LawalBusiness Member
Real Estate Broker 路 Houston | Dallas | Austin, TX 路 Member since 2018 路 5k+ posts 路 2k+ votes
2y

@Nicholas Schwarte

One of the best ways to accumulate riches and achieve financial success at a young age is through house hacking. Your investment journey can be expedited and living expenditures can be compensated by generating rental income from the purchase of a great home in a prime location close to necessary facilities. To get the most out of your investment, make the most of the rental revenue from other flats and think about renting out extra beds or units to renters. Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.

Make sure you stay up to date on real estate investment by making use of online courses, podcasts, books, and networking opportunities. Aim for expansion by establishing clear objectives for growing your holdings, like obtaining more house hack properties or branching out into other real estate categories. For insightful guidance, consult with seasoned investors, mentors, or real estate experts. Keep moving forward to expand your real estate portfolio by being aggressive and goal-oriented. As a real estate investor, you may succeed greatly if you are committed and persistent.

Good luck!

[email protected]832-776-9582Podcast Guest on Show #469
NETWORTH BUILDERS5236 Reviews
WebsiteView Page
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17 Replies

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  • Noah BaconPro Member
    Property Manager 路 Lansdale, PA 路 Member since 2021 路 844 posts 路 1k+ votes
    2y

    Congrats, Nicholas!!馃帀

    Are you house hacking a single family or multifamily home? 

    1Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Noah Bacon:

    Congrats, Nicholas!!馃帀

    Are you house hacking a single family or multifamily home? 

    Thank you Noah!

    I am house hacking a single family home and will be able to live for free and also some left over each month!
    2Reply
  • Lawrence BriggsPro Member
    Investor 路 Austin, TX 路 Member since 2020 路 367 posts 路 377 votes
    2y
    Quote from @Nicholas Schwarte:

    At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!


    Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey! 

    Podcast Guest on Show #269
    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker 路 Houston | Dallas | Austin, TX 路 Member since 2018 路 5k+ posts 路 2k+ votes
    2y

    @Nicholas Schwarte

    One of the best ways to accumulate riches and achieve financial success at a young age is through house hacking. Your investment journey can be expedited and living expenditures can be compensated by generating rental income from the purchase of a great home in a prime location close to necessary facilities. To get the most out of your investment, make the most of the rental revenue from other flats and think about renting out extra beds or units to renters. Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.

    Make sure you stay up to date on real estate investment by making use of online courses, podcasts, books, and networking opportunities. Aim for expansion by establishing clear objectives for growing your holdings, like obtaining more house hack properties or branching out into other real estate categories. For insightful guidance, consult with seasoned investors, mentors, or real estate experts. Keep moving forward to expand your real estate portfolio by being aggressive and goal-oriented. As a real estate investor, you may succeed greatly if you are committed and persistent.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    2Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Lawrence Briggs:
    Quote from @Nicholas Schwarte:

    At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!


    Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey! 


     Thank you Lawrence, this means a lot!

    1Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Wale Lawal:

    @Nicholas Schwarte

    One of the best ways to accumulate riches and achieve financial success at a young age is through house hacking. Your investment journey can be expedited and living expenditures can be compensated by generating rental income from the purchase of a great home in a prime location close to necessary facilities. To get the most out of your investment, make the most of the rental revenue from other flats and think about renting out extra beds or units to renters. Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.

    Make sure you stay up to date on real estate investment by making use of online courses, podcasts, books, and networking opportunities. Aim for expansion by establishing clear objectives for growing your holdings, like obtaining more house hack properties or branching out into other real estate categories. For insightful guidance, consult with seasoned investors, mentors, or real estate experts. Keep moving forward to expand your real estate portfolio by being aggressive and goal-oriented. As a real estate investor, you may succeed greatly if you are committed and persistent.

    Good luck!


    Thank you Wale for your insightful response. I will be renting out every room in the house plus a guest house ADU in the back! I plan on continuing house hacking hopefully once a year. Thank you for all the advice!!

    1Reply
  • Lawrence BriggsPro Member
    Investor 路 Austin, TX 路 Member since 2020 路 367 posts 路 377 votes
    2y
    Quote from @Nicholas Schwarte:
    Quote from @Lawrence Briggs:
    Quote from @Nicholas Schwarte:

    At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!


    Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey! 


     Thank you Lawrence, this means a lot!

    You're welcome! If you have not read it yet, I would recommend the book 鈥淔irst to a Million" by BiggerPockets author - @Dan Sheeks

    Podcast Guest on Show #269
    1Reply
  • Andrew SyriosPro Member
    Moderator
    Residential Real Estate Investor 路 Kansas City, MO 路 Member since 2014 路 10k+ posts 路 5k+ votes
    2y

    Congrats Nicholas!

    Podcast Guest on Show #121
    1Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Andrew Syrios:

    Congrats Nicholas!


     Thank you Andrew!

    1Reply
  • Stephen Seals
    Specialist 路 Atlanta, GA 路 Member since 2019 路 7 posts 路 5 votes
    2y

    @Nicholas Schwarte - Congratulations!  At more than twice your age, I am just now getting into real estate investment and looking to close on my first property in the relatively near future.  Sure I have built up a good career, invested in my 401k, etc.  But if I had gotten my tail into gear at your age, I would probably be typing this from a cabana on my own private island.  Keep at it, sir!

    1Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Stephen Seals:

    @Nicholas Schwarte - Congratulations!  At more than twice your age, I am just now getting into real estate investment and looking to close on my first property in the relatively near future.  Sure I have built up a good career, invested in my 401k, etc.  But if I had gotten my tail into gear at your age, I would probably be typing this from a cabana on my own private island.  Keep at it, sir!


     Thank you so much for your kind words and congratulations on embarking on your real estate investment journey as well. It's never too late to start!!

    0Reply
  • Max Chen
    Member since 2024 路 2 posts 路 0 votes
    2y

    Congrats Nicholas! I'm looking to acquire my first investment property and am inspired by your ability to do so at such a young age. I was wondering how you sourced this deal and what the capital stack/financing looks like for the other 95% of the property. 

    0Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Max Chen:

    Congrats Nicholas! I'm looking to acquire my first investment property and am inspired by your ability to do so at such a young age. I was wondering how you sourced this deal and what the capital stack/financing looks like for the other 95% of the property. 


     Hi Max, and thank you! I used a traditional bank mortgage through US bank. Being a first time home buyer as well as having the home be owner occupant I was able to only put 5% down through money I had saved throughout high school. 

    1Reply
  • Max Chen
    Member since 2024 路 2 posts 路 0 votes
    2y

    That's awesome! You're definitely on the right track and look forward to all the deals you'll be getting done. 

    0Reply
  • Account Closed
    New to Real Estate 路 Brooklyn, NY 路 Member since 2024 路 2 posts 路 1 vote
    2y

    Congrats, Nicholas! It sounds like you've really thought through not just what a good deal looks like today, but the other factors that will contribute to a more long-term appreciating value. House hacking is such a great strategy for a first property鈥擨've seen family members use it successfully and build wealth in the process.

    0Reply
  • Nicholas Schwarte
    OP
    New to Real Estate 路 Tempe AZ & Carlsbad CA 路 Member since 2021 路 27 posts 路 21 votes
    2y
    Quote from @Account Closed:

    Congrats, Nicholas! It sounds like you've really thought through not just what a good deal looks like today, but the other factors that will contribute to a more long-term appreciating value. House hacking is such a great strategy for a first property鈥擨've seen family members use it successfully and build wealth in the process.


     Thank you Greta! I agree, I think the house hack is definitely the best way to get into real estate. estate. 

    0Reply
  • Robin SimonBusiness Member
    Lender 路 Austin, TX 路 Member since 2022 路 5k+ posts 路 4k+ votes
    2y

    Congrats!

    [email protected]
    Harpoon Capital514 Reviews
    WebsiteView Page
    0Reply
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