I am 22 and am saving for my first rental property in Vancouver, WA area

Vancouver, Washington
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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I am 22 and am saving for my first rental property in Vancouver, WA area

Paden Aldinger
Member since 2026 · 4 posts · 6 votes

Hi I am 22 and want to get into real estate investing. I am currently saving for a down payment. I am an electrician apprentice with prior construction experience. I am living at home still with my parents and looking for my first rental property so I probably wouldn’t be doing a house hack. I live in the Portland Oregon area but it’s so expensive and Vancouver seems like a better market. It’s still expensive though so I was wondering if anyone had experience investing in Vancouver or around the area I live in. How can I find good deals? Fixer uppers would be great too. Because of my construction experience I think a fixer upper would be a good path. A duplex or 3 or 4 unit would be ideal for me or something with room to build more later.

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

@Paden Aldinger

The fact that you have construction experience puts you at an immediate advantage in value add transactions. My advice would be to master your numbers, network within the local investor and agent community in Portland and Vancouver, and wait for a project that fits in terms of cash flow.

Good luck!

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  • Joseph CacciapagliaBusiness Member
    Lender · San Antonio, TX · Member since 2020 · 1k+ posts · 1k+ votes
    2mo

    I understand not wanting to give up free housing to do a house hack, but it's definitely the quickest way to get into real estate investing. You have a lot of low down payment options when house hacking, and even some products that would provide renovation money. You'll also run into problems with some investor loan programs, if you don't already own a primary residence. There will still be some options, but fewer.

    That being said, finding good deals is all about putting in the work. You can either make a ton of offers on properties that are listed on the MLS (and I really mean a ton of offers, not just 5-10), or you can spend the time and/or money to find off market, direct to seller, deals. You can do this through direct mail, driving for dollars, facebook adds, and lots of other avenues.

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  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 933 votes
    2mo
    Quote from @Paden Aldinger:

    Hi I am 22 and want to get into real estate investing. I am currently saving for a down payment. I am an electrician apprentice with prior construction experience. I am living at home still with my parents and looking for my first rental property so I probably wouldn’t be doing a house hack. I live in the Portland Oregon area but it’s so expensive and Vancouver seems like a better market. It’s still expensive though so I was wondering if anyone had experience investing in Vancouver or around the area I live in. How can I find good deals? Fixer uppers would be great too. Because of my construction experience I think a fixer upper would be a good path. A duplex or 3 or 4 unit would be ideal for me or something with room to build more later.


    You're in a great position to make a fixer-upper work. Your construction background is a real advantage, and living at home gives you time to save and be patient instead of forcing a deal. Keep analyzing properties, networking with local investors and wholesalers, and don't get locked into one market. If you're open to investing out of state, Midwest markets are also worth comparing because they often offer lower entry prices, solid cash flow, and plenty of value-add duplexes and small multifamily opportunities. The best first deal is the one that fits your numbers, not just your location.
    [email protected]614-418-6081
    1Reply
  • Ken M.
    Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
    2mo
    Quote from @Paden Aldinger:

    Hi I am 22 and want to get into real estate investing. I am currently saving for a down payment. I am an electrician apprentice with prior construction experience. I am living at home still with my parents and looking for my first rental property so I probably wouldn’t be doing a house hack. I live in the Portland Oregon area but it’s so expensive and Vancouver seems like a better market. It’s still expensive though so I was wondering if anyone had experience investing in Vancouver or around the area I live in. How can I find good deals? Fixer uppers would be great too. Because of my construction experience I think a fixer upper would be a good path. A duplex or 3 or 4 unit would be ideal for me or something with room to build more later.

    My cousins live in Vancouver and Gresham and frankly they are not at all happy with what's been happening in Portland. I'd image there will be more people moving to Vancouver than than the other way. If you are going to house hack, make sure it's in an area that has future growth potential so it will sell when you want to, and Battleground or Camas might be too far.
    1Reply
  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 505 votes
    2mo

    I find investors having success with BRRRRs in the South and Midwest depending on the market. There are options for fix and flip loans with up to 90% of the purchase price and 100% of the rehab done on draws. Personal income is not considered beyond being having the down payment and closing costs. Options will vary based on credit, state the property is in and the location of the property (such as rural being more difficult to finance for a fix and flip loan). 

    Once the remodel is done, you can then convert the fix and flip loan to long term financing. One option is a DSCR loan since the waiting time between transactions to get cash out based on the new appraised value is shorter. If you have construction experience, a fixer upper can work if you are comfortable with the type of construction work you would have to do and the other parts of the process. Happy to connect to discuss further.

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  • Jimmy LieuBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votes
    2mo
    Quote from @Paden Aldinger:

    Hi I am 22 and want to get into real estate investing. I am currently saving for a down payment. I am an electrician apprentice with prior construction experience. I am living at home still with my parents and looking for my first rental property so I probably wouldn’t be doing a house hack. I live in the Portland Oregon area but it’s so expensive and Vancouver seems like a better market. It’s still expensive though so I was wondering if anyone had experience investing in Vancouver or around the area I live in. How can I find good deals? Fixer uppers would be great too. Because of my construction experience I think a fixer upper would be a good path. A duplex or 3 or 4 unit would be ideal for me or something with room to build more later.

    Great question and welcome! At 22, you're honestly in a great position because you're already building valuable skills as an electrician and you're living at home, which gives you a chance to save aggressively. I'd focus on learning how to analyze deals now so you're ready to move when the right opportunity comes along. Since you have construction experience, a light or moderate value-add duplex or small multifamily could be a great fit, but be careful not to underestimate rehab costs or holding expenses. I'd also recommend networking with local investors, wholesalers, and property managers, and getting familiar with neighborhoods by tracking listings every week so you start recognizing what a good deal actually looks like. If Vancouver and Portland are stretching your budget, don't feel like you have to invest in your backyard. I actually moved from Portland to Columbus in 2020 because I found it much easier to make the numbers work. There are still neighborhoods where you can find rentals in the $120K-$180K range that can come close to or exceed the 1% rule, plus the city has strong population and job growth from companies like Intel, Google, Amazon, Microsoft, Honda, LG, and Nationwide, which has created solid demand for rentals. Happy to connect and answer any questions you have!

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  • Andrew Lee
    Lender · Grasonville, MD · Member since 2025 · 70 posts · 16 votes
    2mo

    As a first time investor, you can qualify for properties between 1-4 units. To get best terms, I would recommend getting your FICO score to 700 if you have not already done so. For most lenders, you are looking at anywhere between 85-90% LTV leverage with that FICO (some lenders accept lower). You also want to factor in closing, 6-9 months of monthly payments in reserves, and third party fees of taxes, title, and insurance. Since this is a hard money loan, no check on your W-2 or employment. Make sure to also create your business entity if you have not already done so.

    1Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 652 votes
    2mo

    You're on the path you need to walk.  It's not time for you yet to scout out houses.  And that's ok. You want to be the investor who actually fixes the houses himself with a crew.  Hands on. Present. Setting the example for all other workers.  Get there.  And then it is time.  You probably will be able to find the money by that point and just use your capital as back-up or gap money.

    If you are able to find the houses and fix them up, you will find the perfect money partner.  Why?  Cause that's what they are looking for.

    The absolute worst thing you could do is jump in some bridge loan on your own before you are ready. It will put a bad taste in your mouth for REI and the failure will stay with you and it may delay you for years.

    1Reply
  • James JonesPro Member
    Investor · Collierville, TN 38017 · Member since 2017 · 648 posts · 472 votes
    2mo

    22, electrician apprentice, living at home, eyeing small multi with a rehab angle. You're set up better than most people twice your age. Two thoughts.

    First, reconsider skipping the house hack. I get not wanting to move out, but at your age it's the single biggest lever you've got. Owner-occupied on a duplex-to-fourplex means 3.5-5% down instead of 20-25%. On expensive Vancouver inventory that's the difference between buying this year and saving for four more. Live in one unit, rent the others, and your down payment shrinks by tens of thousands. That gap matters way more than the discomfort of moving out. Worth a hard look before you rule it out.

    Second, your trade is a real edge, so aim it right. Don't buy the worst cosmetic fixer, buy the one scared off by stuff that's actually your wheelhouse, old panel, knob-and-tube, failed inspection items. That's expensive fear for most buyers and a Saturday for you. But stay disciplined: your labor lowers the cost, it doesn't fix a bad deal. Underwrite it as if you're paying a contractor, then pocket the savings as margin. Plenty of handy people talk themselves into bad buys because "I'll just fix it."

    On finding deals, at your price point the MLS with a good agent is fine to start. Look for the ugly-but-sound listing sitting because of condition, that's your niche. The off-market stuff comes later once you've done one.

    Keep saving, but run the house-hack numbers first. That path gets you in years sooner.

    1Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2mo

    @Paden Aldinger

    The fact that you have construction experience puts you at an immediate advantage in value add transactions. My advice would be to master your numbers, network within the local investor and agent community in Portland and Vancouver, and wait for a project that fits in terms of cash flow.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
    WebsiteView Page
    1Reply
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