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Updated over 4 years ago on . Most recent reply
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The right way: What to do first?
What is the first thing I should do if I want to invest in a property? I am caught between trying to wait until I can buy a property out of pocket or mortgaging? I am not trying to become an agent, but I want to invest in a few properties.
-Recent graduate who studied Social & Economic Development and Urban Blight
-Excellent credit score
-Total student debt is under 30,000
-I live with my folks and do not pay for rent/food
- I have savings
- I know what I want to do with the properties -- I know which areas I want to invest in/ target -- and I am determined, capable, and able to research...
Any advice would be greatly appreciated! Thank you.
Most Popular Reply
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First thing I do is get out of debt. While I am getting out of debt I am reading everything and listening to the podcast. Second thing I do is get on an extremely tight budget.I am assuming while you are living with parents your overhead is low? Save all that money! Possibly put yourself in proximity to real estate or other investors. Definitely build up your cash. Then look into what financing a property looks like to your own unique situation.