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Updated over 1 year ago,
23-year old Aspiring real estate investor looking for a bit of guidance
Good Morning Everyone!!
I have been passionate and set on buying my first real estate property as an investment for a year now. I want to do an owner-occupied House Hack and rent out the units. I have a 750 credit score, no debt, and 20k cash saved. ( 8k extra but those are for my 8k in student loans)
I just got a new job currently paying me 34 dollars an hour that will be remote.
What has been holding me back from buying a home?
My past job and the new job that I have started have been temporary** jobs covering parental leaves. I was under the impression that it's better to have a stable permanent job when buying a home. They have been at the same company that I ABSOLUTELY LOVE, and the reason why I haven't taken another job is because I have hopes that they offer me a permanent position when the contract expires in March.
The thing is, I am getting impatient with my situation. I love doing research on real estate investing and reading books, I have attended conferences, I have spoken to real estate agents from New Jersey and Florida and lenders, and I am so excited to take the jump. However, I do not have the stability of a permanent job that could be more important.
Just need some advice...
Should I save up more money and keep reading and preparing? (If I should do this, how should I prepare?) OR should I more actively look for properties and dive into the real estate world as I've been wanting to for about a year now and not let the temporary contract hold me back?
BTW- in NJ!