Closed on my first investment property at 19 years old!
At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!
Congrats, Nicholas!!🎉
Are you house hacking a single family or multifamily home?
Quote from @Noah Bacon:Thank you Noah!
Congrats, Nicholas!!🎉
Are you house hacking a single family or multifamily home?
I am house hacking a single family home and will be able to live for free and also some left over each month!
Quote from @Nicholas Schwarte:
At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!
Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey!
One of the best ways to accumulate riches and achieve financial success at a young age is through house hacking. Your investment journey can be expedited and living expenditures can be compensated by generating rental income from the purchase of a great home in a prime location close to necessary facilities. To get the most out of your investment, make the most of the rental revenue from other flats and think about renting out extra beds or units to renters. Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.
Make sure you stay up to date on real estate investment by making use of online courses, podcasts, books, and networking opportunities. Aim for expansion by establishing clear objectives for growing your holdings, like obtaining more house hack properties or branching out into other real estate categories. For insightful guidance, consult with seasoned investors, mentors, or real estate experts. Keep moving forward to expand your real estate portfolio by being aggressive and goal-oriented. As a real estate investor, you may succeed greatly if you are committed and persistent.
Good luck!
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Real Estate Agent Texas (#736740)
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Quote from @Lawrence Briggs:
Quote from @Nicholas Schwarte:
At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!
Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey!
Thank you Lawrence, this means a lot!
Quote from @Wale Lawal:
One of the best ways to accumulate riches and achieve financial success at a young age is through house hacking. Your investment journey can be expedited and living expenditures can be compensated by generating rental income from the purchase of a great home in a prime location close to necessary facilities. To get the most out of your investment, make the most of the rental revenue from other flats and think about renting out extra beds or units to renters. Make sensible financial decisions by allocating funds for unforeseen fees, insurance, property taxes, upkeep, and mortgage payments.
Make sure you stay up to date on real estate investment by making use of online courses, podcasts, books, and networking opportunities. Aim for expansion by establishing clear objectives for growing your holdings, like obtaining more house hack properties or branching out into other real estate categories. For insightful guidance, consult with seasoned investors, mentors, or real estate experts. Keep moving forward to expand your real estate portfolio by being aggressive and goal-oriented. As a real estate investor, you may succeed greatly if you are committed and persistent.
Good luck!
Thank you Wale for your insightful response. I will be renting out every room in the house plus a guest house ADU in the back! I plan on continuing house hacking hopefully once a year. Thank you for all the advice!!
Quote from @Nicholas Schwarte:
Quote from @Lawrence Briggs:
Quote from @Nicholas Schwarte:
At 19 years old I am thrilled to have the opportunity to buy my first investment property. Being a first time home buyer and owner occupant I was able to put 5% down on a house hack property. This home is in a great neighborhood that is right next to a elementary school, park, The Cubs spring training facility, and a huge shopping center! First one is under the belt and can't wait to expand and get as many properties as possible!
Congrats, Nicholas! This is so awesome! I'm proud of you, and keep us posted on your journey!
Thank you Lawrence, this means a lot!
You're welcome! If you have not read it yet, I would recommend the book “First to a Million" by BiggerPockets author - @Dan Sheeks
@Nicholas Schwarte - Congratulations! At more than twice your age, I am just now getting into real estate investment and looking to close on my first property in the relatively near future. Sure I have built up a good career, invested in my 401k, etc. But if I had gotten my tail into gear at your age, I would probably be typing this from a cabana on my own private island. Keep at it, sir!
Quote from @Stephen Seals:
@Nicholas Schwarte - Congratulations! At more than twice your age, I am just now getting into real estate investment and looking to close on my first property in the relatively near future. Sure I have built up a good career, invested in my 401k, etc. But if I had gotten my tail into gear at your age, I would probably be typing this from a cabana on my own private island. Keep at it, sir!
Thank you so much for your kind words and congratulations on embarking on your real estate investment journey as well. It's never too late to start!!
Congrats Nicholas! I'm looking to acquire my first investment property and am inspired by your ability to do so at such a young age. I was wondering how you sourced this deal and what the capital stack/financing looks like for the other 95% of the property.