All Forum Posts by: Damon Cameron Jr

@Vincent Maniquis 

If you are interested we can also connect! We are in this journey to Financial Independence young together! Let me know if you need help or more advice we can definitely connect over the phone!

@ Vincent Maniquis

Nice to meet you! I am 19 years old sophomore in college so we are close in age. First and foremost congratulations on discovering Real Estate and taking action (Educating yourself) which most people will not do. In terms of family and friends I can give you great advice because I was in a similar situation:

1. Get new friends- The people you call "friends" now you will not talk to at all 5 years from today. These people are only reciting their social conditioning from their parents and those who shaped who they are today. Find people who have the same mindset as you (Other Real Estate Investors). 

2. Of course your family are going to say your going to be a failure because they are soon to be the biggest FAILURE. Social Security has a quote " At the age of 65, 75% of Americans are dependent on friends, family and relatives to live, 23% are still working and 2% are financially independent." Minimize the amount of time you spend with negative friends and family. Also remember your young so many people are jealous that time has passed them by. Most people have REGRET! There are many people around your age and older (like myself) who know they are not here on earth to work for 45 years and pay bills. 

3. Continue to educate yourself and create a game plan. Where do you want to be 10 years from today? Design your life and work backwards from the end goal. What do you need to accomplish these next 1,2,3,4,5 years to get to your 10 year goal?

You create your reality. Never allow another human being overcome or influence you from doing what you want to do on this earth! 

@ Shawn S. 

Go on YouTube and search "Tax Free Wealth Tom Wheelwright". Get you a whole notebook and pen and take notes. It is a long book but great information on how to find a tax advisor, build a team, handle and prepare for an audit and all of  the massive tax benefits for Investors and Business Owners! I literally read it last week and was tremendous!

@Cassidy Burns I am currently 19 years old wrapping up college to qualify for loans (w2 income as Business Analyst). My goal for 2021 is graduate next month with AA Degree and to continue to invest in personal development/ self development and sustain the habits I have built daily (Analyze 1 deal, watch 1 Bigger pockets podcast, read 1-2 hours, read Bigger pockets forums 15 minutes a day etc.)

@sharehan jiha 

Typically once you have an offer accepted you would want to add an "inspection contingency" with your offer. This gives you the ability to get a professional home inspection from top to bottom of the property. Then you will get a 70-90 page report showing everything wrong with the condition of the property. After that you can hire contractors to come to the property and give you a bid or quote on how much it will cost to replace or repair problems in your home inspection. 

@Mark Amaral

I highly recommend these 5 books to change your mindset and really get obsessed with Financial Independence!

1. Rich Dad Poor Dad- Robert Kiyosaki

2. Cash Flow Quadrant- Robert Kiyosaki

3. Richest Man in Babolyan- George Clason 

4. Secrets of a Millionaire Mind- T Harv Ecker

5. How To Invest In Real Estate- Brandon Turner Josh Dorkin

I am also 19! I would recommend everything people above have stated:

1. Get educated (books, audiobooks, podcasts, mentors)

2. Save most of your income working a job in college

3. LIMIT STUDENT LOAN DEBT (This will affect your debt to income ratio to qualify for loans) 

4. Build credit minimum 620 with 2 year credit history

5. Find someone who is where you want to be 5-10 years from now and model their game plan to wealth and financial freedom!

@ Matthew Holland

Continue to "be a shopper not a buyer." Stick to your criteria and do not get discouraged or violate your criteria just to say you have a deal!

@Derek Meyer

I am 19 in college getting my degree to get a w2 income to qualify for a loan. In terms of saving for down payment I live on the 30/70 rule. 30% of my income from my part time job is used for living expenses (tuition, phone bill, laundry etc.) 70% of my income goes into savings (storage) for my first down payment. I recommend bank hacking buying a property 3-5% down payment, living in it for one year while house hacking either the bedrooms or other unit and repeating the process after 12 months. With other people paying off your mortgage you will be able to live for free and save a large portion of your w2 active income to buy more rental properties.

@Bruce P. Bellott

I’m 19. If you get a degree in the same field of your degree the bank will qualify you as two years work experience. When you graduate and get your first job offer take that to the bank and they will consider the two years in college( junior year senior year) as work experience at the same pay.