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Updated about 4 years ago,
What are my First steps into real estate Investing
Hello, im 20 years old and I am extremely interested in turning real estate investing to my full time job at one point. I currently make about 36-40k a year and am living at home. I got into finance and investing about a year ago and have been able to save up about 5k cash, 6k in my roth ira, and 5k in a brokerage account. I want my next big investment to be in real estate my doing 3.5% down with an FHA loan, live in it for 2 years while renovating it, and then refinancing to buy the next one. My price range would be between 200k-250k for the first house. Ideally a duplex and rent out the other unit but single family if i cannot find anything. Are these good steps to take? What else do i need to consider? Will my current income not allow me to be approved for loans? What else can i do right now to prepare?