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Updated almost 9 years ago,
Determined future real estate investor in my early 20s
Hello BP! I just created my profile and I wanted to say hello. I live in the Chicago suburbs. I'm 22 years old, recently graduated with an electrical engineering degree, and I have been working for almost a year now at an electrical control systems company. All my student loans are paid off and I'm ready to start putting my savings to work(Real Estate).
My goal is to work my full time job, but steadily increase my real estate portfolio. I want to start out with a small property and slowly accumulate more properties using the cash flow earned from renting. Eventually, I want to have enough properties that accumulate enough cash flow so I don't have to work an office job! (Yuck)
I would like to get started at the end of this year. I currently have 9000 saved up. By the end of the year I project to have around 40+k saved. That being said, what do you readers suggest the best plan of action for me? My loans are paid off, and the only negative cash flow I have is a car loan of 14k at a 0.9% interest. I appreciate your help and feeback, thank you!!