I bought my first investment property while still in college. Now I'm 24 and own 30 homes as a full-time landlord.

Lawrence Guerguis became a landlord at 21 years old. Now he owns more than 30 properties. Courtesy of Lawrence Guerguis

Lawrence Guerguis started his real estate career at age 21 and now owns over 30 properties.

Guerguis thought he wanted to be an investment banker in college, but switched to real estate.

He moved to Ohio after college to be a hands-on landlord, but now manages his properties from California.

This as-told-to essay is based on a conversation with Lawrence Guerguis, a 24-year-old based in Orange County, California, who started investing in real estate in the Midwest while still in college. The following has been edited for length and clarity.

I always thought I'd go into investment banking and work on Wall Street . During my sophomore year of college at the University of San Diego, I homed in on finance as my major.

One weekend during my junior year, I went out to the bars. We went out to this pizza spot that my friends and I usually go to, and I ran into this guy who was sitting there acting a little odd.

I was like, "Hey, is everything all right?" He turned to me and said, "Dude, I only have two weeks of the year to have a good time. Just leave me alone."

I asked what he did, and he said he worked in investment banking , so I sat and talked with him for like an hour. He asked me if I loved money, and I said no. Money's great and all, but I don't love it.

He was like, "Well, I love money, and this is why I do investment banking. I don't even have the time to spend the kind of money that I make. I make great money and all that, but my lifestyle is pretty rough."

The next day, I went to my academic advisor and added a real estate major.

I was like, "We're not doing investment banking." That's not what I want to live for. I don't want to live for money. I want to live for freedom and have a purpose.

Guerguis thought he wanted to work on Wall Street, but always had a passion for real estate. Courtesy of Lawrence Guerguis

I've always had a passion for real estate. I love houses — I used to go to open houses for fun in college just to check them out. So even if I went down the investment banking or finance route, I knew I could get into real estate.

But after that conversation with that guy, I completely shut down finance. I thought, "I'm going to go all-in on figuring out what we're going to do with real estate."

I sold my car to finance my first investment

My junior year, I had a hand-me-down car, and I was like, "I'm at this university, and I really don't need it." So I sold it.

I got $16,000 from that sale, and my dad was like, "We can get another car."

He didn't know what I wanted to do at the time.

I started looking for a property to buy. Obviously, I couldn't get anything in San Diego or Orange County for $16,000.

So I was like, "All right, we're going to have to start looking elsewhere." I looked at different Midwestern states, and I ended up coming to a pretty interesting town in Illinois. There, $15,000 covered the down payment on a property, and the extra $1,000 covered a couple of months of the mortgage. I was like, "Let's do it."

I knew it was a risk, but I was 21 at the time, so worst case scenario, I'm in some debt, but I'm sure I'll figure it out. I pulled the trigger on that house.

I didn't have a W-2 income — I never have — so I couldn't do a conventional loan. I did a typical Debt Service Coverage Ratio (DSCR) loan . A DSCR is a debt service coverage ratio, which pretty much sees if either the property's current rent or expected rent will cover the mortgage payment — and the ratio needs to be 1.25.

For this house, just because it was so cheap, my payment was around $400, and the HUD rent for that ZIP code was about $1,300 — well over 2.0.

I thought, "I'm going to need a tenant that doesn't miss rent," which is a pretty crazy ask. I then stumbled across Section 8 , and, thankfully, my first tenant worked out. My screening was awful — I don't even think I did a screening that first time — I kind of just went with the flow, and thankfully that one worked.

Once I got that first house junior year, and cash was flowing, I was like, "I think this is what I want to do in real estate."

Before that, I thought I just wanted to work in real estate and own houses. But once I owned the house and got that first Section 8 tenant, I was like, "OK, this is my niche."

That first house was a pretty ballsy decision, but I knew that if I wanted to get into real estate at some point, I needed to either make a move soon or make a mistake soon.

I'm making passive income now, but I got my hands dirty at first

When I graduated from college in May 2024, I packed all my clothes into a checked bag, my PC and cables — not even the keyboard and mouse — into a carry-on, and moved across the country to Ohio not knowing anyone there. There, I started buying more properties and managing them.

I was in Cleveland for two years, and the first year and a half, I was doing everything on my own.

I was painting these houses, I was doing flooring and ripping out carpet. I was figuring it out: I had YouTube open on my phone, looking up how to take off a toilet and put it back on.

Guerguis during a renovation of one of his properties. Courtesy of Lawrence Guerguis

I didn't have too much experience in construction; I couldn't tell you the difference between PEX and PVC plumbing.

Now, I know all that stuff. And I have over 30 properties.

That first year and a half, I was an investor and a landlord. I was doing all the screenings, the tenant showings, all the communication, everything.

At the year and a half mark, I started my own property management group. I'm still a landlord, I still go over screenings, but I have people who do repairs for me, who do the showings for me. I don't necessarily need to be there.

It's become passive, and I've been back in California since June. I've done phone calls and sent a couple of emails, but it's not like a traditional job.

Hone...

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