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Updated almost 3 years ago,

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Is this a good plan?

Posted

Hi all, I am currently a Senior in college studying engineering, and I am very interested in Real Estate. I've been listening and reading as much as I can on Real Estate, and I have forged a plan. I wanted to run it by professionals and see what you all thought. Upon graduation, I will most likely be working as a construction project manager. I plan to save as much as possible from my job, and try to get to about 100k as quick as I can. I feel like that is the right amount of capital to start investing in homes (I would get a 30y mortgage I assume, but I think 100k is the right amount in case something goes haywire). I assume I need to hire a good lawyer and property manager/firm in order to really do this. My main concern is whether that is enough capital to get started, and if you all think rentals is the best path to go. Also, is there anybody else that I should hire to be on my "team" at that point besides a lawyer and a property manager? Realtor or Inspector maybe? I think my degree will definitely help as I will be able to really tell if a home has good electrical/ HVAC/plumbing/ foundation. My main goal is to eventually generate passive income so that I can travel and work from anywhere, and really experience the world. I would love to hear any thoughts you all have. Thank you!

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