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Updated about 3 years ago on . Most recent reply

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Liam Floyd
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Advice for a 17 year old

Liam Floyd
Posted

Hello, my name is Liam Floyd. I am a high school  senior in Seattle Washington, I love real estate. 

My father moved from Vancouver Canada in 2004 to flip homes and since has made a killing developing Seattle real estate and I have always known I wanted to follow in his steps given his success in the industry and flexible lifestyle. 

For the past 3 years I have hustled my junk hauling business and saved up $15,000 and originally planned on using that to trade options but have recently realized I could put that towards a down payment using a  fha loan on a rental property where I could afford one (specifically Arizona) because not everything is $500,000+ like it is here in Seattle. 

I have two potential plans and would like some advice on which you guys think would be the best to pursue, keep in mind my dad is mentoring me and has credit and additional cash to put up through this process.

Option one: purchase a rental property some where in the United States (most likely In Arizona) for under $275,000 and find a year round renter/ Airbnb 

Option 2: develop the skill of wholesaling, sell one or two contracts then put a larger down payment on a multi family property which would bring in more cash flow but yield lots more responsibility. 

Either way, my end goal will be to house hack a property wherever I go to college ( San Diego or Tempe)
after refinancing my first rental property for my sophomore or junior year of college so 1.5-2.5 years from now, which way do you think would be easier to reach my end goal?

I appreciate any advice or input and thank you for your time.



Most Popular Reply

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583
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Dan Sheeks
Pro Member
  • Rental Property Investor
  • Denver, CO
355
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583
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Dan Sheeks
Pro Member
  • Rental Property Investor
  • Denver, CO
Replied

Hey @Liam Floyd! You should definitely check out the most recent book by Bigger Pockets. It's called First to a Million and I wrote it for young people just like you!

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