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Updated over 4 years ago on . Most recent reply

User Stats

14
Posts
13
Votes
Thomas Breiling
  • New to Real Estate
  • Milwaukee, WI
13
Votes |
14
Posts

Give an 18 year old your best advice!

Thomas Breiling
  • New to Real Estate
  • Milwaukee, WI
Posted

I'm 18 years old and recently got licensed as an agent. Would appreciate your wisdom, knowledge, and advice when it comes to real estate investing, FI, and being a real estate agent. 

Most Popular Reply

User Stats

951
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599
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Kiera Underwood
  • Specialist
  • Oklahoma City, OK
599
Votes |
951
Posts
Kiera Underwood
  • Specialist
  • Oklahoma City, OK
Replied

@Thomas Breiling

I would utilize a conventional loan to buy a duplex in a rough area that will likely develop. If you move into the property you can pay 5% down and repeat that every year. In 10 years when you've done it 10 times and the area has hugely developed you can upgrade and refinance one. Use that money to do another until you have a beautiful portfolio in a hot area. You were able to upgrade it with mortgage pay down and appreciation instead of your hard earned cash.
I understand all of this is irrelevant to you being an agent, but because you're young and likely not held down by the demand of a family and good schools you're in a good place to do this strategy.

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