Real estate vs life goals

[Troy B.]

Hey guys, I have done a lot of research on real estate, and feel I am ready to jump in! I am 19 years old, and just got my real estate license. My main goal in life is to be free. Have freedom to do what I want, and not get stuck doing anything that makes me miserable. I was wondering if it is feasible for me to work on investing in real estate until I hit about $2500 per month in income, then pursue my dreams that may consist of not making money for a long time if at all. Also, I want to do this ASAP, so I have developed a strategy such as flipping a couple houses to FHA into a 4 plex, then flip 2+ houses a year. 1 to live off, the rest to invest assuming $20k+ profit each flip.

Any guidance on this issue? Anyone doing this?

[Nathaniel Boyer]

Good for you.  I started investing and flipping houses at age 20 so I was a year behind you. I am 26 now and own several rentals as well as my own.  I still work on flips and I can tell you the time goes by quickly.  My biggest piece of advice would be to keep your personal finances in impeccable condition.  Banks and lenders will scrutinize you more because of your lack of experience, lack of consistent income, and so on.  Develop a great credit score and work hard to keep your debt to income as low as possible.  If you have the work ethic it honestly wont take long until people realize you are serious and they will be willing work with you and help you. One of other piece of advice, do not be afraid to share your opinions and have conversations with other investors and real estate professionals.  People can quickly tell if you are full  of BS or sincerely know what you are talking about. You will gain respect and people will want to work with you.   Good luck.