New Member from Southeast Michigan
I am a 24-year-old trade magazine editor. I graduated from Northwestern University in 2014 (go Wildcats!) with a degree in journalism. After reading Rich Dad, Poor Dad (cliche) I'm ready to make smart long term investments for my future. How can one pass on passive income once they've been enlightened, right?! I moved back home with my mom and I'm in no rush to leave. Looking for ways to get started and I'm most interested in utilizing the FHA loan to acquire a duplex. What would you suggest to someone in my shoes, with their entire life ahead of them and no real bills (aside from car insurance and student loans) yet? Wisdom welcome!
Most Popular Reply
Valerie King
Welcome to the forums. Your plan sounds good with house hacking a duplex with a low down FHA loan. I wish I did that when I first started on my journey.
Don't be in a hurry to move out like I was. I was pressured to buy a house from a very young age by my parents. I remember my dad telling me though, to think about the house I was buying as a business. And I bought a fixer upper and now have quite a bit of equity, so that worked out. But if I were to do it again I would have bought a duplex and lived in half.
Good luck to you and happy investing!!