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Updated almost 2 years ago on . Most recent reply

User Stats

11
Posts
13
Votes
Jonathan Davis
  • New to Real Estate
  • Linden, MI
13
Votes |
11
Posts

45yo (2) Kids, OK credit, and $1000 in the bank. Where to start?

Jonathan Davis
  • New to Real Estate
  • Linden, MI
Posted

Hello all. My family and I have had enough of getting ahead just to get knocked back down. We are ready to start seeking a 2nd string of income that can help us weather the bad luck. 
Both of us have good jobs and things are looking up. 

Looking to see from experienced people: If you were in my situation, where would you start?

Thanks,

JD

Most Popular Reply

User Stats

47
Posts
58
Votes
Jesse L. Weaver
  • Real Estate Agent
  • Mohnton, PA
58
Votes |
47
Posts
Jesse L. Weaver
  • Real Estate Agent
  • Mohnton, PA
Replied

Exactly what you are doing right now! Read as much as possible, network as much as possible, and save as much as possible. Google Dave Ramsey. A lot of people here can't stand him but he does give great advice for increasing that bank account number. Just understand that he hates leverage and when you get to that point you can decide for yourself how much leverage you are comfortable with.

After you've listened to hours and hours of podcasts and read a bunch of books you will start to figure out what you works for YOU. That's the best part about real estate- there's so many ways to successfully invest and no one knows your exact situation as well as you do. There isn't a right or wrong answer. Decide where you want to be in X number of years and work backwards from there! 

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