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Updated almost 8 years ago,

User Stats

75
Posts
62
Votes
Jon B.
  • Maspeth, NY
62
Votes |
75
Posts

Advice for friend with $100k cash, $100k job, $0 debt, military

Jon B.
  • Maspeth, NY
Posted

Hi everyone.. I'm relatively new to real estate investing myself; just been reading books blogs, the forums, and podcasts... I've been talking with a friend of mine who is in a great situation and wants to get into real estate... His situation is this: He has just over $100k in cash in the bank; He has a w-2 job that gets him $100k-120k a year; He has $0 debt besides besides car insurance/cell phone (he lives with his parents still); He has 720-760 credit score; And he is currently in the Army reserves and eligible for a VA loan. My buddy is only 25 years old too.... I've been trying to get him to join BP, read some books, and educate himself but he thinks he knows everything already but yet he doesn't even know how many years a mortgage can be.... So my thing is this: What advice would you give to my friend if he asked you what he should do?

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