{"id":7257,"date":"2021-01-29T19:24:00","date_gmt":"2021-01-29T19:24:00","guid":{"rendered":"https:\/\/sallybzhao.com\/?p=7257"},"modified":"2024-07-17T12:52:52","modified_gmt":"2024-07-17T19:52:52","slug":"planning-for-my-first-house-at-18-years-old","status":"publish","type":"post","link":"https:\/\/sallybzhao.com\/planning-for-my-first-house-at-18-years-old\/","title":{"rendered":"Planning for My First House at 18 Years Old"},"content":{"rendered":"\n

When people learn that I bought my first investment property in San Francisco at 23, they are often surprised and curious about how I achieved this goal at such a young age. I never gave it much thought, as I just stuck to my plan. However, I recently took the time to trace its origins. Long story short, it\u2019s been a 5-year journey of making multiple \u201cright\u201d decisions that put me in a fortunate position to buy a house.<\/p>\n\n\n\n\n\n\n\n

The story begins when I was 18 years old, a sophomore in college. I had just completed my first summer internship at Sandia National Labs in Livermore, CA. Because I lived at home and opted to commute the daily 100-mile round trip, I saved up quite a bit of money from that one summer. I quickly realized the advantage of living at home while working and decided that after graduation, I\u2019d find a job in San Francisco and live at home. There was just one little hiccup: my chemical engineering major did not provide many opportunities in the Bay Area. If I wanted the best shot at acquiring a job in SF, I would have to find something in tech. <\/p>\n\n\n\n

For the rest of my sophomore year, I debated with myself whether I should switch majors to get these opportunities. Against my advisor\u2019s wishes and my classmates\u2019 pleas, I dropped a few critical ChemE classes, applied to the Information Systems (IS) major, and prayed I would get in. All summer long, I waited and waited for the letter\u2026 and finally, I got the great news!<\/p>\n\n\n\n

My journey was just beginning. I started my junior year in Information Systems, taking classes with freshmen to catch up. At one point, I was taking a freshman, sophomore, and junior-level class all in the same semester. I still planned to graduate in four years, which meant cramming the entire IS curriculum into my remaining two years. If that were not enough, I also applied for a Human-Computer Interaction (HCI) double major, so I had to finish two whole majors in two years. Ultimately, I did it by overloading on courses every semester and graduating with over 500 credits. I secured my job in the fall of my senior year and coasted the rest of the way to graduation.<\/p>\n\n\n\n

All this time, my plan was to live in San Francisco to save money for a house. It wasn’t initially a short-term goal, and the idea of real estate investing didn\u2019t cross my mind until after I started working. By then, I was 22 and deep into personal finance. I followed Mr. Money Mustache<\/a> and eventually discovered the BiggerPockets<\/a> community. Once I started listening to BP podcasts, I cemented my passion for real estate<\/a> as a path towards financial independence. I was hooked on the idea of FIRE, passive income, and retiring early. <\/p>\n\n\n\n

Quickly, I realized how critical my position was – living at home and earning a high income in tech. To further advance my progress, I cut expenses, saved money, and absorbed everything I could on real estate investing. I developed criteria for my investment property, learned to analyze deals, ran comps every season for over a year, and developed a strong understanding of the real estate market. By the time I turned 23, I was ready to pull the trigger. I found a cash-flowing property, put in my offer, and closed in January 2020.<\/p>\n\n\n\n

Looking back, I can easily connect the dots to see how it all came together. However, throughout the process, my peers thought I was crazy to dream of buying a house so soon. Their doubt made me question myself too, but my plan was there, the steps were laid, and I just had to follow the numbers. My vision remained my north star and continued to guide me when I was hesitant. <\/p>\n\n\n\n

My advice to you: plan, follow through, and push forward. No matter how ambitious your goals may seem, with a clear plan and determination, you can achieve them!<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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