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Updated about 8 years ago on . Most recent reply
Advice to better my future
Hello all,
I currently have no experience in investments nor saved capital to speak of. I work for a storage corporation where I've been a property manger for several years and have gained a good amount of experience in the industry. Ultimately I'd be interested in going into commercial real estate and developing a storage facility of my own. For now, I was looking into house flipping or any suggestions that would be realistic given my particular situation, i.e: high 500 credit score, no money, never having owned a home and having an average yearly income of about 36,000. I do also have DIY/construction experience.
All input welcome and thank you for your time!
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- Rock Star Extraordinaire
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Get a second job. Save every dime from said second job. Reduce all non-essential spending today and save the excess from the first job. Once you have enough to afford a down payment, house hack a duplex/triplex. Live in the crappiest unit and rent out the nice stuff. Stockpile cash from the investment to fund your next investment. Repeat.
- JD Martin
- Podcast Guest on Show #243
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