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Updated about 6 years ago on . Most recent reply

User Stats

21
Posts
5
Votes

Best 30k investment as a 23 year old?

Andres Castaneda
Posted

Hello BP family!

My name is Andres and I am a 23 year old realtor in MA&NH. I have been in the business for just over 2 years and am currently seeking my first investment. I am hesitant with buy and flips given the current state of the market and would like some experienced input. What should I do with my money? Do I hold it and wait for market correction, invest now and get a cash flowing rental? What have been your personal experiences with stock trading, financial managers etc? I am not necessarily looking for a straight shot answer but I want to see what has worked for you guys within this community as I am looking to make a major move come 2019. Any and ALL feedback is highly appreciated. Thank you!

Most Popular Reply

Account Closed
  • Rental Property Investor
  • Brooklyn NY
469
Votes |
263
Posts
Account Closed
  • Rental Property Investor
  • Brooklyn NY
Replied
  1. Clear existing debt 
  2. Build emergency fund
  3. Max 401k - low-cost index funds
  4. Max Roth IRA - low-cost index funds
  5. Start a side hustle
  6. Funds from side hustle to buy RE
  7. Funds from RE to buy more RE
  8. Rinse and repeat step 6 and 7 

Live below your means and don't get caught up in the lifestyle creep.  

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