That's how I did it multiple times. I'm 34. I'm a mortgage lender, my parents are realtors, I understand the value of real estate. I bought a shitty condo when I was 24 with minimal down. I lived in it two years, then bought a less shitty condo, while renting out first.

Then I met my wife and between the two of us we saved enough to buy a house (she hated that condo so much). And we rented out our less shitty condo.

When we bought the house our interest rate was high, 4.75% because that's what the best rate at that time was. I refinanced that when rates dropped to 3.5%, then refied again to 2.7% a year later. My mortgage dropped a thousand bucks and I saved that because I'd already budgeted for it. I used that to buy a rental condo. It's doing ok, my tenants at that one lost their job during Covid and because I'm softhearted I forgave them a couple months of rent. They're catching back up now though, so next year should be better. I also just went into contract on another rental condo last week, so we'll see how that goes but I'll probably close his month

So at 34, I own my own house and three (almost four) rentals.

I learned all this from my dad. My dad saved all his money when I was growing up. We lived in one shitty condo after another my whole life, I just didn't realize my dad was buying them. I didn't live in a house until I was 18. I hated that we didn't have cable TV when I was a kid but now as an adult I appreciate his frugality.