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Updated over 8 years ago on . Most recent reply
I want to start investing as soon as possible, but I'm 18.
So my reading material for the last month has been Biggerpockets and more Biggerpockets, and I just want to say thank you to the community for being so informative and helpful. Buy and hold investing is what I think is going to be my passion, but I am open to other things as well. This fall I will be a college student, and I'm not exactly rolling in money at this point. I know that I want to start investing while in college so I can continue afterwards. Where do you guys suggest I start? Should I just work on building capital in order to get my first rental property, or is there something I can before? All I know for now is to keep reading on here to further my education on everything. Thanks for the help!
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I second some suggestions already offered. Get your RE license and start part time as an agent ... this will allow you to "earn while you learn". You could also read up as you have been, attend local REI meetups, network, and study the local markets. Also work on mastering your personal finance ... this will not only allow you to save some capital to invest, but will also teach you a lot of what you need to know. Managing you personal incomes and expenses is an essential tool to master before becoming a landlord ... investing in a rental property is all about analyzing and managing income and expenses too, only with financial leverage (debt) added to the equation.
Finally, if you are able to build a respectable and reliable income with your side hustle as a RE agent, master personal finances, and build up your credit, by the time you are 20 and a sophomore you may be in a position to qualify for a mortgage ... you could then look to house hack a single family, duplex, triplex, or even fourplex near campus and you're off and running on your investment career ... if you do nothing else but hold that property, you'll own it free in clear by 50, but I have a feeling you will do much more than this once you get going.