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Updated about 8 years ago on . Most recent reply

User Stats

17
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4
Votes
Adonijah Short
  • Real Estate Agent
  • Austin, TX
4
Votes |
17
Posts

How can i get started?

Adonijah Short
  • Real Estate Agent
  • Austin, TX
Posted

I'm currently 16 and a sophomore in High school how can i get my first unit by age 20? or earlier what would it take? How much money should i save? I also live in Austin,Texas i know houses are expensive over there any tips would be appreciated .

Most Popular Reply

User Stats

83
Posts
39
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Saberian Younger
  • Investor
  • Austin, TX
39
Votes |
83
Posts
Saberian Younger
  • Investor
  • Austin, TX
Replied

Welcome to BP @Adonijah Short

Read read read, listen to podcasts here on BP. Repeat... 

Search "hack your housing" threads here on BP as well. Become a student of finance (research early retirement blogs) as well as real estate. Start saving, put it on auto draft straight from your paycheck. 

To answer the question how much money should you save? You can get into loans with down payments as Ramon stated above, as well as pickup houses from wholesalers which vary in price. but to give you an idea I currently have two set to close at $35 K per house. These are not in the City of Austin but within 55 minutes or so. 

Either path can work but it's good to establish yourself with a solid education and financial history first. None of this is easy but it's a path well tread to financial independence. Google that as well (FI) "financial independence." Be responsible for your own money and put a flashlight on what goes in and out.

Good luck in your journey, feel free to reach out. 

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