How I Bought My First Rental Property at 28 With No Inheritance

The Story

"At 28, I bought my first rental property. I didn’t have family money or a giant salary. What I did have was a plan: I saved aggressively, took advantage of an FHA loan with just 3.5% down, and found a property where the rent would cover the mortgage. That first property kick-started my journey into real estate investing."

Advisor Breakdown

Situation:

• 28-year-old renter, moderate salary, no inheritance.

• Wanted to start building wealth through real estate.

Task:

• Save for a down payment, qualify for financing, and find a cash-flow positive property.

Action:

• Lived with roommates for 2 years, cut housing costs.

• Saved ~$15K for down payment + closing costs.

• Used an FHA loan (3.5% down instead of 20%).

• Chose a duplex where one unit’s rent covered most of the mortgage.

👉 I like this because it shows real estate isn’t reserved for the wealthy. With discipline, research, and the right loan, everyday people can get in the game.

Result:

• Monthly rent = $1,200. Mortgage = $950. Positive cash flow + equity growth.

• First property built confidence → sparked path to future investments.

Key Takeaways

• FHA loans make real estate more accessible.

• “House hacking” (living in one unit, renting others) accelerates wealth.

• Rental properties create both cash flow and long-term equity