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Updated almost 5 years ago,
Buy now or wait and save?
My name is Javen Bowman and I am 19 years old (turning 20 in August) and I'm wanting to get into real estate and flipping houses very badly. I know I could probably get a loan for a house and I found an area that I want to go to.
I live about 20 minutes northwest of Indianapolis, Indiana and am looking at property in Muncie, Indiana because that's where my girlfriend is going to go to college at beginning the next school year. The houses there are relatively cheap (ranging from $20k to $60k) but the neighborhoods have me conflicted at the same time. It's a college town so I know I could fix a house up and rent it out to some college kids or maybe even someone else, but would it be better to rehab it myself and save money or hire contractors to do the work? Also would now be a good time anyway because of the Covid-19 pandemic?
I'm open to any advice, tips, or even suggestions for other alternatives for my situation. I mainly just want to be with my girlfriend and do what I dream of and I want to get started now but I could also wait to save more money if it's the better route. Just could use some advice, thanks guys!