All Forum Posts by: Henry Davis

@Jim Goebel

I agree with your point about thinking in the long term, but I’m still uncertain about how much student loan debt will delay my first investment. Is there a way to minimise/pay off student loan debt in a short period of time? Or do I have to grind out in my 20s saving vigorously.

Hi guys I’m 17 and from England, I’m really keen on building a rental property portfolio which I can grow into a business.

I’m now having to make the decision whether to go to university (to study a finance related degree because that’s what I’m passionate about) or to skip university and get a job at 18, allowing me to avoid student debt and maybe get into investing sooner.

The problem with this is maybe my income won’t be as high as it would with a career in finance, so the pace at which the portfolio grows will be slower.

Has anyone got any opinions on this, maybe some past experience or advice? It would be really appreciated.

@Travis Henry Yes the general feeling I get from BP podcasts is that your first deal won’t make you suddenly rich, but it is the investment over the course of 10years or so that will create wealth. Grant Cardone also said “one door no more”, he explains this as meaning single family and small multi family real estate is bad and that you will not be able to continue to investing if you invest in these. I’m pretty certain I don’t agree with him because i hear if loads of peoole on the BP poscast who have done well with small multifamily, but his experience and expertise makes me question myself, is he just plain wrong or is he on to something?

Hi guys I’m pretty new here and I’m trying to learn as much as I can, so I can invest in my 29s (I’m 16). I’ve been listening to the bigger pockets podcast as well as Grant Cardone’s realcestate podcast, and I’m getting mixed signals. On BP most of the shows are about small multi family properties of around-4 units, but Grant Cardone says all the time “one door and no more” meaning buying small deals with one to 4 renters are bad. He dIes huge deals of 300+doors and he says your fIrst deal should be as bIg as possible. The two podcasts contradict each other and I’m asking if anyone can make this seem more clear to me, whether big deals are better than small multi family, and why Thanks

@Jonathan Hulen Your point on income is very helpful! Before I had the attitude that a job would hold me back from investing becaise it would take up too much time, but you changed my mindset to now realising a job with a good income will help me find deals and therefore help me invest. Do u think getting into investing by house hacking the first handful of properties is the best way to get started? Or do you think there is a better alternative. My initial thoughts are that house hacking allows you to invest sooner, as you can put 10% down, instead of a larger 20-25%. I also feel that having 2 or 3 other tenants pay most or all of the mortgage would allow me to save lots of money, helping find future deals.

@Ezekiel Racelis Yes I meant 6 figures with not just RE, but I hope to quit my job and make create a business out of investing, and I feel I would like to expand into apartment blocks as well. These are just initial thoughts, nothing is set in stone yet, as I learn more and more my plan will improve.

@Alpesh Parmar I you are to hlusehack a property, would gettIng a residential mortgage of 10%or less be okay? I live in the UK and this is what I plan to do once I leave school, because I will not have enough saved to put 20-25% down.

@Ezekiel Racelis I agree about learning as much as I can, this is why i chose to study economics at school, and I hope to study accounting and finance at university. This will hopefully prepare me for some aspects of investing and I also really enjoy the subject. I don’t plan to join the military once I get out of school, I want to either go to university or get and accounting apprenticeship. My ideal plan is to house hack properties for the 5 years or so after I leave school, my goal is to make 6 figures at roughly 35 years old.

@Sam Shueh Yes I do have a savings account, I think I just need to get a part time job or a summer job to grow my savings.

@Chris Szepessy Yes I have bought and read a handful of real estate books in the last few months, and I have listened to the BP podcast for a few months as well. One of the ideas I had was to house hack properties whilst studying in university or working, I plan to live in each property for a year or so, then buying another and repeating the process.