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Updated over 7 years ago on . Most recent reply

User Stats

162
Posts
50
Votes
Jared Baker
  • Hartford, WI
50
Votes |
162
Posts

Where to start investing to replace a 9-5 job

Jared Baker
  • Hartford, WI
Posted

I am a college student graduating in December 2017.  I have a very short question that I am hoping will get many responses.

My question is what would be the best choice as a first property to get and where to buy it?

I am hoping to get enough doors to be able to pocket about $6,000 a month, which seems reasonable.  I want to create a passive income so that I can "retire" early but still have an income equivalent to a full time job.  

With that in mind what would be the best property type to start investing in.

  • A single family house, and possibly get a roommate?
  • A multi-family, and live in one of the units? How many units?
  • A foreclosure, fix it up and then rent/or possibly sell depending on the ARV?

Now a follow up of where to buy.  After graduation I do not know where I will get my first full time job so where should I invest?

  • Wait until I know where I will be working and invest in that area?
  • Find someplace close to where I would like to live?
  • Should I invest in the nearest city or is it just as safe to invest in smaller areas?

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