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Updated almost 10 years ago on . Most recent reply

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16
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8
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Jose Alvarado
  • Real Estate Investor
  • Pasco, WA
8
Votes |
16
Posts

Hello from Pasco Washington! I have but one question for all.

Jose Alvarado
  • Real Estate Investor
  • Pasco, WA
Posted

Hello everyone and anyone.

As a preface to my question, know that I am 19 years old and am starting out fresh. I currently go to school for network security, and work retail for money. I am also moving out with my girlfriend to affordable housing, of which we have at least 3 months saved up for. Some people would say I am ready for life. I say I haven't even started. I've recently started picking up self-help books and improvement books, and it has me realizing that I want more. I truly want to learn and grow, be financially independent and not worry about checks from another person to satisfy my living. And I'm glad I'm starting to learn this as a young adult. Even though I know it will take a lot of time and effort, I will get to that point of financial independence and beyond. While I feel like I have been moving like a freight train, I know there is so much to learn and digest. So the question arises, where do I start?

My plan is to become adequately literate in finances and real estate. I have only just begun, but have read and plan to reread the intelligent investor. This is to at least have a good backup plan for my failures, of which I know there will be. But I really want to learn the jargon and concepts. I know this site offers a free book, and I intend on reading it. Is it a good place to start for real estate literacy? As well, where can I get a comprehensive book(s) of terms and concepts in finances and accounting for a beginner?

To anyone who replies and or reads this post, thank you for your time.

Also, I hope this doesn't constitute a mentor request. I don't asked to be guided, but a direction would be nice.

Most Popular Reply

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1,870
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777
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Aaron Montague
  • Rental Property Investor
  • Brookline, MA
777
Votes |
1,870
Posts
Aaron Montague
  • Rental Property Investor
  • Brookline, MA
Replied

@Jose Alvarado

Where do I start?

Finance-

Put yourself on a budget and stick to it.  One of the critical components of the budget is putting away money to invest later.  If your housing is cheap, excellent!!  Raise the rent on yourself.  Paying $750/month in rent... put $1000 away each month for housing.

Sticking to a budget is fairly easy in the investment world, but you need to make sure you have the self discipline to get started.

Skills-

Teach yourself something useful that is property related.  Installing doors and windows is a great place to start.  It's not as easy as the pros, or youtube, makes it look.  You'll find that you've mastered several key carpentry skills if you can master windows and doors.

RE-

Stick to a single topic for a while and figure it out.  BP has experts on just about every subject known to Real Estate investing.  Every month I find someone talking about something I've never heard/thought of here on BP.  I'd stick to the basics, flips/Buy&Hold/wholesaling, to start.

Life-

Get a job with as good a paycheck as you can.  I know this seems redundant, but the more you make, the more you can borrow for an investment property.  Network security is an awesome gig, I'd get into that on your off time as fast as possible.

Most of all find something that is fun.  RE, like much of life, is much easier when it's fun.

  • Aaron Montague
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