$275,000 in revenue, $365,000 in equity, and a stay-at-home-wife

In the fall of 2015, at the age of 25, I embarked on my real estate investing journey by purchasing a two-family home. I didn't come from a wealthy background, nor did I have extensive experience in real estate, but I had determination, a solid plan, and the support of a first-time homebuyer program. This property has since become a cornerstone of my family's financial future. In less than a decade, it has generated $275,000 in revenue, built $365,000 in equity, and allowed my wife to become a stay-at-home mom. I want to share how I was able to achieve this:

 The Purchase: Taking the Leap

The property, located in Massachusetts, was priced at $325,000 during a period of ultra-low interest rates in 2015. Thanks to the Massachusetts Housing Partnership ONE Mortgage Program, I was able to purchase the home with:

•A low 3.25% fixed interest rate,

•A down payment of just 3.5% ($11,375) plus closing costs (~$6,000), and

•No Private Mortgage Insurance (PMI), as the program covered it for me.

Admittedly, I didn’t think I had a shot at getting approved for a mortgage loan. I didn’t even want to try for fear of rejection. Fortunately, my father gave me the push I needed and told me to just “go for it.” I work in the investment industry, and I know all too well that without taking risks, there are no rewards. But I still couldn’t overcome the fact that I knew nothing about real estate or becoming a landlord. Did I want to pass up on the investment opportunity of a lifetime all because I was afraid? I reminded myself that many successful people start from the bottom and have to learn and adapt along the way.

At the time, I was making around $55,000 a year and had $7,000 in savings, a far cry from the $17,000 I needed. I was fortunate to have started investing in my 401K early, at 19 years old, when I got my first job in college. I borrowed $5,000 from my 401K assets and asked my father if I could borrow another $5,000 for this important investment opportunity.

The Mass ONE program made buying my first home accessible and allowed me to start generating passive income almost immediately. While I admittedly got lucky getting this particular loan, as they are hard to come by, there are still many fantastic FHA and other loan programs out there for those looking to buy their first home.

My girlfriend at the time (now my lovely wife) and I moved into the upstairs unit, and we rented out the first-floor unit, which brought in $22,200 annually in rental income. I was able to keep maintenance costs extremely low ($3,000-$5,000 per year), as I lived in the house and took care of nearly every aspect of maintaining, repairing, and managing the property. Whenever something was outside of my wheelhouse, I called in a professional. At that time, my primary focus was to live affordably while beginning to build wealth for the future.

Living and Growing in the Property

For seven years, my wife and I called the upstairs unit home. During that time, our family grew—we welcomed two children, and as our needs expanded, we began looking for a single-family home. In the summer of 2022, we made the move, but instead of selling the multifamily property, we chose to keep it as a rental. In our new home we clearly had too much privacy because we ended up with 2 more kids in the first two years in our new home.

A Game-Changer for My Family

Fast forward to today, the property has more than doubled in value—it’s now worth over $635,000 according to Zillow. Not only that, but rental income has grown significantly, with the property now generating $52,200 per year.

This investment has given my family financial flexibility. It has allowed my wife to be a stay-at-home mom, something we deeply value. Beyond that, I view this property as a generational asset. My long-term plan is for it to serve as my children’s college fund when the time comes, relieving a potential financial burden and giving them a head start in life.

Lessons Learned and What You Can Do

Buying that property in 2015 was one of the best financial decisions I’ve ever made, but it didn’t happen by chance. It required research, a willingness to take calculated risks, and a commitment to long-term thinking. If you’re young and considering getting into real estate, here are a few tips:

1. Research first-time homebuyer programs in your area. Programs like the ONE Mortgage made it possible for me to start with minimal upfront costs.

2. Think beyond your immediate needs. Multifamily properties can generate income while giving you a place to live.

3. Hold on to appreciating assets. Real estate, when managed well, can grow in value and provide increasing returns over time.

The Takeaway

What started as a modest investment at 25 has turned into a financial foundation for my family. Real estate investing doesn’t require being wealthy—it requires patience, planning, and taking advantage of the opportunities available to you.

If you’ve ever thought about investing in a multifamily property, I encourage you to take that first step. It might just be the decision that changes your family’s future.