Looking for Some More Information/Education

[Christopher Powers]

Hi all,

My name is Chris Powers and I'm 22 years old. I recently attended a FortuneBuilders class and am very interested in become a Real Estate investor. The main problem is I don't have the capital needed to continue learning their systems so decided I would try to find more information elsewhere. I've been interested in becoming a Real Estate Agent for a time now, but because I recently found out about this other form of possible income, I want to learn more about it. Can anyone help me figure out what I need to start my own business of investing in New York? Preferably Albany, NY or Westchester County, as I'm in Albany now for school, but may be heading home this summer after school. 

Hope you guys can help!

Christopher Powers

[Steve B.]

All made good points. Depending on how much school you have left, I'd buy a multi-family in Albany, live in one unit or bedroom and rent out all the other bedrooms to other students. Returns are excellent if you pick the right tenants. 

if you need a co-signer, I would find out why by trying to get pre-approved for a FHA loan. Then do what you need to do to get credit established so you don't need a cosigner. Get a summer job, preferably in residential construction. Pay is decent and you'll learn a lot about homes. Or go ahead and get your real estate license and find a good broker to work for. Whatever you do, save as much as you can and apply it towards your 3% down for FHA.

Parents can be helpful but can often hold you back. In the end sometimes you just have to jump in and do it, and if you make a mistake consider it as part of your education. And whatever you do don't give money to fortunebuilders or any of those other guru hacks