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Updated almost 14 years ago,
22 year old college grad, any advice on my first investment?
22 years of age
$15,000 in student loans
no other debts
$50,000 salary, secure job
$4,000 in savings
here's what i'm thinking:
residential duplex/triplex/quad--i will also be living in one of them in order to save money for cushioning while being a landlord.
increasing the value of the home through a discount price, inflation. demand and forced appreciation.
within a few years:
1031 tax exchange to pyramid up.
I understand that my plans are broad and the blueprint is yet to me entailed through this post but
my question is, is this a smart first real estate investment? is there other strategies or different routes that you would take if you were in my position?
your input may change my life and thank you,
denny p.