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Updated 6 months ago on . Most recent reply
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Tips for a 19 y/o graduating college in the spring, wanting to invest by summer 2025
Why wait? I want to start house hacking and living a life of financial independence by the summer of 2025. This gives me under a year to start looking for properties and building capital. I would love a few tips to get started, "get my ducks in a row" before next summer, and be ready to either build or purchase a duplex, triplex, etc., to start a house hacking journey. Any responses are appreciated!
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- Rental Property Investor
- Ellsworth, ME
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My tips essentially boil down to the compounding effect of a lot of good decisions over a long period of time/slow and steady wins the race. Think long term, delay gratification, and buy the property you want to own the most 10 years from now. I'm also a big fan of live in flips.
Also, maximize your W2/day job income. If you want to hit financial independence, you're going to need to make real money and live off of very little for a long time. You can have it all, but you can't have it all at once. My 20s were a blur starting a business and working nights and weekends. My 30s were more relaxed, and we (wife and I with 2 kids) hit financial independence at 41 and 39. We essentially gave up our 20s to get that.
I have nothing to sell and would be happy to help if you think I can be a resource. Good luck!