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Updated almost 7 years ago,
newbie from normal il.
Hello everyone, I'm Brandon Rixstine from blo/no in Il. Still in college, tired of paying rent, wanting to retire by the age of 40 (currently 20). having no clue where to start, I decided to listen to "set for life" by scott trench and currently listening to "the book on rental property investing" by brandon turner. Although im living in normal il (home to isu) im looking to move to carbondale il (home to siu) to finish school. With the new found knowledge I started to ponder various websites looking for great deals in relestate. Although Im moving to carbondale in the fall of 2018 im currently not in school so that I could work full time and save money. My main concern is having enough cash to cover closing costs and the down payment. Im hoping to have around 10k in savings by the time I move, currently have around 5k. I work as a server at a local restraunt so I make good money as a college kid. Currently living at home has allowed me to save a ton more money then if rented the entire time. (moved out for a little over a year) I was orginally looking to rent a one bedroom apartment for 500 a month while at school then investing after.Now Im gauging wheather the risk is worth the journey while im at school and holding a job down to find a duplex to four-plex home. My main concerns with owning a small multifamily unit while in college are as follows, tentants not taking me seriously because of my age, not being able to rent out the other units, securing financing, lack of capital/cash to fix any poteinal poblems in the beginging or when building my reserves. I look forward to hearing from many and meeting a few of you.