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Updated over 8 years ago,
The New Kid From Canada
Hello there guys! My name is Isaiah. I'm 19 years of age and I'm from Toronto, ON in Canada. Within the last year or so I have developed an interest in investing in my future using the idea of money to make money. I've become obsessed, I just can't stop researching about new ideas. Whether it is investing in a startup business, the stock market, or real estate investing, i just can't stop researching about all these fantastic ideas.
I was first introduced to the idea of real estate investing after reading the book "Rich Dad, Poor Dad" by Robert Kiyosaki. Ever since then I've been doing a little bit of research each day on real estate investing. I'm aware that there is only so much I can learn from articles and webinars without actually dipping my foot into the realm of real estate. Which is why I've made a commitment to myself that any time within the next 3 years, I will own a piece of real estate.
There's two things I have always been: a risk taker, and a big dreamer. At 19 I practically have the world in my freaking pocket. I feel that I can take as many risks as I can now because I don't have any expenses to worry about right now. I'm on the verge of entering another decade of my life and I really want to maximize my potential during these crucial years.
With all that being said, now feels like an appropriate time to let you guys know where I'm at in my life. I'm about to start a 3 year Accounting and Finance program in the fall. I also want to own my first piece of real estate before I finish this program. Right now I'm trying to plan out how I will balance school along with making a steady income so that I will have enough to purchase my first piece of real estate when the time is up. I want my first deal to be at least 10+ units as I'm a very big believer in the "go big or go home" notion.
My question to all of you is: How can a 19 year old that is about to start a 3 year program at college make enough capital to make a down payment on a 10+ unit rental property within the next 3 years? I know there are plenty of ways to come up with capital (loans, private lenders, day jobs). How can I come up with enough money to own a 10+ rental unit property in 3 years? My job now pays $13 an hour and I can only get so far with that. Should I consider a job with commission? Please, if you have any suggestions on how to start out feel free to shoot them at me. It's greatly appreciated.
Thank you for taking the time out to read my introductory post, I look forward to reading what you guys have to say. Cheers!