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Updated almost 11 years ago on . Most recent reply
New member looking to start an ambitious path into investing!
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
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