Anyone have tips on how to just get started? I’m in my first job at 24 and feel like so much of my money is going to Roth IRA and Roth 401k that I barely have any $ to start saving up for a down payment. How much should I be targeting for a first down payment on a rental property? Should I forgo 401k and IRA contributions to save up?? Any tips appreciated for a beginner, thanks!!

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Yes you can put less into those buckets because those are meant for retirement. Unless you want to access them when youre 59.5 (yeah ueah theres an exception if its your first home). You need cash for a down-payment.

Comes down to where you want this property tbh. I've seen people get properties in PA for 100-200k total value -- which is a nice down-payment for a house in NY, but that's all up to you and what you want to do

Contribute to a self directed Roth IRA - can use the money to invest in alternative assets such as real estate

Depends what you can afford to do based on your take home.
General rule of thumb is get at least your employers match on the 401k
Up to you if you want to max out Roth (I personally would)
Put the rest into savings (HYS account so you get paid ok amount in interest)
There’s other ways to go about it of course. Depends what you make, what it costs you to live, and how high a priority it is to save for a house versus other items

Where do you currently live and where are you looking?

Aim for having 5% down! 5% of what tho? You can run preapproval numbers now based on where you’d like your monthly payment to be. I work with first time buyers all over the country and would be honored to help you assemble more data and a plan. I assist people even two years before they buy. There’s no fee to apply and really no good reason not to look at the numbers.

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