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Updated 2 months ago, 10/15/2024

User Stats

15
Posts
10
Votes
Kenny Banuelos
  • New to Real Estate
  • Salt Lake City, UT
10
Votes |
15
Posts

18 years old, serious about investing!!

Kenny Banuelos
  • New to Real Estate
  • Salt Lake City, UT
Posted

HEY BP FAM! This is my story, an 18 year old anxious to invest!
About 3 years ago my freshman year of high school I was told if I was to house hack after high school I could own 5 properties in 10 year's.

I took that to heart and have been saving money since then reading books and listening to podcasts about finance, business and real estate. I have also taken a lot of classes throughout high school further developing my understanding.

I have had this goal of buying my first duplex and have talked to real estate investors, realtors, lenders, appraisers and have been encouraged so much to where I am anxious to dive into this.

Now that I am 18 I have absolutely no debt, a credit score of 727, I have 28k sitting in a certificate of deposit, a couple years of working consistently under my belt, I've also been investing in my Roth IRA, I feel very blessed to be in this situation.

I am still in high school, I know it wouldn’t be smart to buy a house right now but something in me is so anxious to buy this house I know I have to have patience but I don’t know if I should start the process of getting pre approved, finding a good investor friendly realtor, lender, preparing my documents or if I should just wait.

When analyzing deals in my market I have crystal clear real estate deal criteria my strategy is house hacking a duplex, price range of 500,000-600,00 in Salt lake, Utah! 

Any advice, suggestions or golden nuggets are appreciated I’m 18 but I’m serious about this and I am willing to talk to anyone curious about this information! 

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