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Updated over 6 years ago,

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Ellen O'Neill
4
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24 years old, 35k a year but good saver - do I buy a property?

Ellen O'Neill
Posted

I am 24 years old currently making 35k a year living in New Jersey. I don't make a lot of money but have managed to save 17k in a little less than 2 years. I want to invest in a multi family property but am hesitant to do so considering New Jersey is very expensive, I am a young female (this may be a problem when dealing with renters) and my future is very much so undetermined as I am just starting out in the "adult world." 

I have done research but am still on the fence about how much to have in the bank before purchasing a rental home. I have heard it is recommended to have at least 50k (or absolutely nothing depending on who you ask). 

Did anyone else start out young and a little unstable when buying real estate? Thanks! 

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