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Updated over 2 years ago on . Most recent reply
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Looking for advice, seasoned and beginner investors.
I'm 18, turning 19 in soon. I'm really into the idea of getting my foot through the door of Rental Investing, via House Hacking.
However, generating the funds necessary is proving to be more difficult than expected.
Currently, I can only work nights, how ever there aren't many job listing for night in my area, as I live in a small town. I found a few, but I'm not betting on them.
My idea was to pick up a night job, then when I could pick up a day job and grind it out for a year, as I currently pay $300- 0 for rent and food, but as I've looked into actually putting the plan into action, I'm seeing it is way more unlikely than once originally expected.
Not to mention, my old car is slowly beginning to break down, so I'll have to replace that in a few months as well.
Part of me still wants to find a way to make it happen, but the other half is saying i should slow it down, maybe get a job at the prsion. Then give this thing a shot.
Then there is my mom, who ive essentially told i have no interest in working a conventional 9-5 (imagine your kid straight out of HS telling you that) yet I also haven't told her I want to do real estate, because she would most likely panic, and tell the whole family and it something I'd rather not deal with until I'm already in it, and it's too late to turn back.
So I'm think, maybe a conventional job for the next few years may not be too bad of an idea, especially as it would help me break the news "hey mom, I'm going to buy this $520,000 4 unit with pretty much all debt, and just ride it out." You know? Because even explaining it, that's still how she'll hear it, that's just how it works. Mom's, am I right?
All jokes aside, i get it. They care. They dont want me to do wrong early on.
what do you guys think/ what would you do?