Turning 21, with 12k.

[Jeffrey Cadwell]

Hey BP, I have been lurking here awhile. I am turning 21 and have just over 12k in a college fund that can be used since I am on a full ride. In terms of debt, I am in a good position, living at home, steady part time job currently making net ~1200/month. I want to start generating passive compounding income. The downside- located in NYC I have a hard time at my age, finding a property that low. Credit score is in the 700-750 range and will have an opportunity to save another ~7k by the end of summer 2015 due to an internship + work. I rather get started sooner that that because starting early is advantageous. I need advice from the veterans. Look forward to hearing from everyone, thanks!

[Brandon M.]

I don't think school and investing have to be mutually exclusive, it is not an either/or. I do agree with Curt in that you should start attending REIA meetings or any BP meetings in your area. You will meet other like minded investors and you might even run into an opportunity to start investing now. Could be a partnership with someone else, could be a deal someone else is trying to wholesale.

It is just a matter of how much time you can afford to spend focusing on RE outside of school/work/internship/social life. Go to meetup.com and put in your area, you are bound to find a few groups that meet in the evenings or weekends that you could attend. 

No better time to get started than now.