Comment: Forget the land. You need to

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Forget the land. You need to

Forget the land. You need to start getting the money working for you (cashflowing) first, THEN buy land. If you buy land now with no cashflow, you will be back at square one where all the people telling you to buy land are (no offense).

Use it as a downpayment on a duplex or triplex where the rents will cover the mortgage and expenses plus put some extra in your pocket. It is not a bad time to have real estate debt right now, let the money work for you. You will never get a fixed rate as low as it is now (basically zero).

I am speaking from experience. I was fortunate enough to be able to live with my uncle rent-free for a few years right after college. I saved basically my entire paycheck from my 9 to 5 and just lived off of extra cash I made tutoring after work. After a couple years I had 90k to put down on a four-plex that was in horrible condition. I rehabbed the building and raised the rents (still a bit below market value). Three years later, the building now cashflows about 2000/mo after all expenses and property taxes are paid. I still pay no income tax on this property thanks to depreciation and expense write-offs and being able to carry them over.

Now that I have that little set up going, I am looking at land. Obviously I would recommend going this route as opposed to buying the land first.

Let me know if you have any questions.