All Forum Posts by: Anthony Nguyen

Hello my name is Anthony and I am 25 years old.  I have lived in the greater Seattle area for pretty much my whole life and now I am interested in investing in some real estate.  My annual income is ~$70k and I have ~$125k saved.  Credit score ~ 720.  I am not married and have no children. Ideally, I would like to just pay cash for a property (or as close to as possible) but given the current market, that seems impossible.  I would like to find a property in the greater Seattle area (From South Seattle to Everett and also the eastside) with 3-4 bedrooms and 1-2 bathrooms.  Depending on the situation I would like to rent out some rooms as I would strongly prefer to generate passive income through this investment.  I would also be interested in buying a cheap home where I could rent out the entire property.  This will be my first home.  My end goal is to establish as many sources of passive income as possible.

I have also considered condos, and high rise apartment in metro areas (Seattle/Bellevue).

Is now a good time to buy or will there be a market crash?  

What would your advice be for me based on my situation?

Any advice would be greatly appreciately.

Thank you,

Anthony

Thank you for the quick replies Mike and Ali. I appreciate the advice from both of you.

Mike: Thank you for the suggestion. You are the first one to help me on this site, so I will surely remember you and your proposed course of investing.

Ali: To answer your questions, I am still not quite sure what my investing goals are. I just know that I want to get a head start on investing as soon as I can (whether it be real estate or any other vehicle). My overall goal, like most everyone else, is financial independence and a nice home. As far as the $400k base point, that is usually what a decent property costs in the Seattle area.

I really do not know what I can afford/invest at this point. I just moved out of my parents house after graduation and do not know anything about real estate. I am in the middle of an internship with the salary mentioned in my original post, but should be acquiring a full time position in the near future with an annual salary of at least $60k. I live a frugal life and currently save around 70-80% of my earnings. What would be the price range for rental properties that I could afford?

Thanks,

Anthony

Hello biggerpockets!

I am 23 year old recent college graduate and have approximately $50,000 dollars saved up with no debt. I am currently working and make around $50k per year. I have very low living expenses and want to start investing in real estate as soon as I can. I was thinking about purchasing a rental property or two but my ultimate goal is to buy a beach house, or at least a $400k house.

What would be the best way to invest my money or accomplish my goals?

Thanks