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Updated almost 8 years ago on . Most recent reply

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8
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2
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John Malafronte
  • Staten Island, NY
2
Votes |
8
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Looking for some advice!!!

John Malafronte
  • Staten Island, NY
Posted
Ok I'm from Staten Island NY, I'm 19 and I love real estate, I plan to open a mobile car wash within a few months but I also wanna do real estate (in future) my plan is to run my business and save all my money I make from it I'll be the only worker so I should have a nice amount saved up but my goal is at 22 to go into getting my first rental house SFR or mult family, I feel it's better to do around that age because I'm dept free I live at home and all I pay is my car payment and phone bill, do you think it's to far fetch to get a rental at 22? Better yet how do I go about it I'm trying to learn more about the real estate game and I just find it's so amazing! Any points from experienced investors would help!!! ;)

Most Popular Reply

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1
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1
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Debbi Anderson
  • Flipper
  • Lakewood, WA
1
Votes |
1
Posts
Debbi Anderson
  • Flipper
  • Lakewood, WA
Replied

I would buy the home or up to 4 units-owner occupied  (live in 1 unit) so you can get 30 year fixed money at homeowner rates (lowest). Look  for something that needs cosmetic work & is not the nicest house on the block.Look for good area & under market rents.Buy BEFORE you quit your job & become self employed as then lender would want 2 years of good income from your business forcing you to pay for expensive short term $.

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