Real Estate Rookie How This 22-Year-Old Bought a Duplex with 5% Down and Zero Experience
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Jun 10, 2025 Steele Evangelisti, a real estate investor and agent in Pittsburgh, shares his inspiring journey of buying a duplex with just 5% down at 22 years old. With no prior experience and facing unexpected challenges like a leaky roof and electrical issues, Steele explores creative financing options and the power of saving aggressively. He emphasizes the importance of self-education using YouTube for DIY renovations and how anyone can break into real estate without deep pockets. His story showcases resilience and resourcefulness in building wealth through property investment.
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Steele's Early Investment Journey
- Steele started investing young with $1,000 in bonds from grandparents and moved into stocks at 16.
- His early stock dabbling led to discovering a passion for real estate investing.
Financing Your First Property
- Use a 5% down conventional loan with seller assistance to afford your first property without a lot of cash.
- FHA loans may be restrictive for fixer-uppers, so conventional can be a better option.
Use Seller Assist Strategically
- Negotiate seller assist to cover closing costs rather than lowering the purchase price.
- This upfront cash saves more money than a reduced monthly mortgage payment over time.