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Updated over 6 years ago on . Most recent reply

User Stats

696
Posts
293
Votes
Calvin Ozanick
  • Property Manager
  • Janesville, WI
293
Votes |
696
Posts

How much should I save up before investing on my own?

Calvin Ozanick
  • Property Manager
  • Janesville, WI
Posted

I currently work full-time in the property management industry. I currently run Wisconsin Property Managers as the lead manager and am responsible for everything the company does on a day to day basis. I am 22 and have enough income to pay for all of my own bills while still saving up. I do not have any debt from college, however, I do have a car loan that I am paying off. Should I wait to pay off my car and settle into my career before owning, or should I jump right in? Should I look for partners in the area, what should my next move be?

  • Calvin Ozanick
business profile image
Wisconsin Property Managers
4.8 stars
315 Reviews

Most Popular Reply

User Stats

5,113
Posts
7,387
Votes
Marcus Auerbach
#4 General Real Estate Investing Contributor
  • Investor
  • Milwaukee - Mequon, WI
7,387
Votes |
5,113
Posts
Marcus Auerbach
#4 General Real Estate Investing Contributor
  • Investor
  • Milwaukee - Mequon, WI
Replied

@Calvin Ozanick if you ask any seasoned investor about their regrats you always get the same answer - why did I not start sooner?

You have what Robert Kiyosaki calls an unfair advantage working in PM - you should use it! In your situation an owner occupied loan is the easiest low-down option you have. Buying a 2 or 4 family house hack allows you to safe money compared to rent. Most importantly you gain experience and you start showing rental income on your tax return, which is how banks are going to determine your experience level. This will be your stepping stone for the next one.

business profile image
On Point Realty Group
5.0 stars
61 Reviews

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