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Updated over 4 years ago, 08/31/2020
19 Year Old Wanting to Househack His Way To Success!
I'm 19 years old (born and raised in KCK) and have been wanting to get into real estate/entrepreneurship since I was elementary school! I've finally reached a point in my life where I am able to start, and I've been trying to hit wholesaling/real estate investing hard. I have about $15k saved up and a motivation to make more. Background on me: I restore classic cars / hot rods full time and do real estate in my off time. I have been networking my butt off (attending meet ups, Facebook, contacting other investors from their bandit signs, BP, podcasts etc) and reaching out to entrepreneurs/investors to get an input and see if I could provide any value in exchange for knowledge and experience.
I've been researching a bunch more on House-hacking and different ways to get into real estate. I'm looking in the Bonner springs/De Soto in Kansas for a duplex or triplex. Just trying to figure out the best way to fund my House-hack, then I'll look for a property. While I'm doing that, I'd really like to start wholesaling or even buying/flipping cheap commercial/residential properties as well. Or I might look into starting my own short term rental management business (Air BnB etc) until I get enough capital for fix and flips. Anyone have any suggestions?
I've been attempting to wholesale, but its been pretty inconsistent, and I've been doing it for 10 months with no return, although I've gotten close on multiple occasions. Does anyone have any tips on what I should focus on, or how I can restructure myself in order to fulfill my dream of becoming a successful entrepreneur?
10-20+ years from now I'd like to own and rent 30+ Single family, commercial, and multi family properties. I also want to have a fix and flip business targeting $100,000-$250,000 properties, and high end properties 600k+. Then for my less income producing business, I want to start a performance car shop for my dad and I to work at together. I know its going to take a lot of hard work and planning, but I'm really dedicated to making it happen. Just trying to figure out where to start.
Thanks everyone!