All Forum Posts by: Account Closed

Hello, I'm starting a job in Chicago and wanted to find a triplex/duplex in the Chicagoland area (in a relatively safe neighborhood). Which areas of Chicago will develop the most and why? What are the hot areas now that you think will sink? Thanks!

Hi everyone,

I'm 22 years old with about 40k in savings and 5k in debt. I'm living at home for a year and start working in September making about 75k a year as a consultant. I want to get started in real estate investing, but I worry about making my entire portfolio 100% focused on real estate. I'm looking to purchase a rental property in the next year. I'm nervous as far as being a landlord goes especially as I will be traveling for work most of the time. I have doubts about taking on a mortgage at my age and whether it will affect my credit score positively or negatively. I have been following the podcasts and analyzing properties, but I'm not sure how much I want to take on.

What do you recommend for someone my age to help me avoid making my entire portfolio 100% real estate? What properties should I start with (i.e. mobile home parks, condos, duplex)? How will take a mortgage out on at my age affect my credit score? What can I be doing to prepare for when the time comes to purchase?

Thanks!