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Updated almost 11 years ago on . Most recent reply

Account Closed
  • Tampa, FL
2
Votes |
3
Posts

New member looking to start an ambitious path into investing!

Account Closed
  • Tampa, FL
Posted

Hello biggerpockets forum! I hope you all give me bigger pockets!

My name is Ryan and I am 29 years old and living with my girlfriend in Tampa Florida and within a month moving to Charleston, SC to start a new job! I believe this job will offer me more money, but ultimately I want to start building wealth for myself.

Anyway, I would like some ideas/tactics/suggestions on how to start investing in real estate with relatively low personal income (under 10K).

I believe these are a number of great aspects of my finances:

1. I have great credit and no credit card debt!

2. I also , in my opinion, have virtually no debt-to-income.

a. I have no student loan debt (9.5K all paid off)

b. No car payment (I buy cheaper used cars) and no other immediate bills I can think of.

I pay off every bill immediately, and always have several thousand as my savings. Basically I consider myself good at accumulating money, not wealth...yet.

Any questions, please do & feel free to ask! I welcome all your feedback and knowledge!

Most Popular Reply

User Stats

33
Posts
5
Votes
Tim C.
  • SFR Investor
  • Charleston, SC
5
Votes |
33
Posts
Tim C.
  • SFR Investor
  • Charleston, SC
Replied

Hi Ron and welcome to BP. One option would be investing in mobile homes. There is a big market here in Charleston and you can get decent rents. Typically you have to pay cash but the deals are reasonable ($1,000 to $20,000).

Second, I'd recommend attending the local REIA meetings. Just google 'Charleston REIA' and you should find the website.

- Tim

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