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Updated over 5 years ago on . Most recent reply

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How should a young person invest into themselves?

Quinton Huntley
Posted

What are some good ways you think a young person (under 20) good invest into them self to have a fantastic real estate future?

Please be specific with book titles and things like that thank you.

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Erik W.
  • Real Estate Investor
  • Springfield, MO
2,580
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Erik W.
  • Real Estate Investor
  • Springfield, MO
Replied

I agree about skipping the mentors, "Courses" and gurus for now.  You're not experienced enough to judge which ones are good and which ones are frauds, and there are a lot of both out there.  Most are generic...selling the same advice you can get online from places like here and YouTube for free or very low cost.

Books are good.  Depending on what kind of investing you plan on getting into, I recommend the following:

"Landlording" by Leigh Robinson - the definitive book on how to manage rentals

"Buy and Rent Foreclosures" by Nielson - very good common sense business cases built around actual properties

"How to Buy Real Estate for at Least 20% Below Market Value" by John T. Reed - excellent analysis of market forces and how and where you can find real deals in places no one else is looking....no pie-in-the sky, plenty of grit and realism.

"Build Wealth One House at a Time" by Schaub - talks about defining goals specifically and then finding the strategy that helps you achieve it; one of the few "gurus" who says you only NEED about 30 houses to be financially independent

"The Section 8 Bible vol 1 and 2" - by McLean and Cipriano.  Even if you don't plan doing Section 8, this will open your eyes to how some renters live, what items you should/shouldn't offer when renting "Class C" housing, and also plenty of down to earth, common sense.

I'm not a multi family investor (yet) but those books will give you a good foundation with many concepts of buying, flipping, tenant management, and making a profit off long-term holding.

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