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Ryan Chaw, 31, bought his first home in 2016 at the age of 23. He kept living with his parents so he could rent the home and earn thousands of dollars per month. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Last November, the typical first-time homebuyer was 36 years old, an all-time high, according to the National Association of Realtors. AdvertisementAdvertisementThe rookie mistake that new homebuyers should avoidWhile Chaw largely views his first homebuying experience as a success story, he said he made one costly mistake.
Persons: Ryan Chaw, he'd, Chaw, homebuyer, He's Organizations: Service, National Association of Realtors, Federal Reserve, Stockton, He's Locations: Wall, Silicon, California, Stockton , California, Sacramento
He started purchasing real estate in 2016 as a strategy to reach financial independence and has since acquired six properties. Chaw is also a pharmacist, a job he plans to keep for the foreseeable future despite his significant real estate income. Related: How to get into real estate investing »2. "I don't want to be in a position where I'm desperate and having to make my next buck in real estate," he said. When he started investing in real estate in 2016, he planned to use the income stream to reach financial independence over seven or eight years.
Persons: Ryan Chaw, he's, It's, Chaw, He's, I've Organizations: Service Locations: Wall, Silicon
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