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Updated about 9 years ago on . Most recent reply
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Starting out at a 19 year old college student
I am 19 years old with limited financials and am attending college, I don't think I have time or the financial status to flip houses while in college. I was wondering what would be a good place to start where I could Invest during my college years. I have no experience and I am looking for some guidance.
I go to school in Boston
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Nick,
How is a 19 yo going to get a FHA loan without credit or a job? How will they get the 3.5% down? I know JOB is a dirty word for many RE investors but the reality is that you need a little money and good credit to get started. If he takes the steps I suggested and could get into a 4 plex by the time he was 21/22... He would still be way ahead of the game.
You need cash, credit and some experience to win in this game with any consistency. Anybody saying otherwise is trying to sell you something.