hey Matt
I was and still am in the same boat as you a few years back. Im only 27 and have already made a ton of bad decisions. I went to grad school and finished. Right before I completed my degree.... in 2005, CA was booming. Like you, my credit was great, 780, and like you, my savings was great, 25k in savings... all before I turned 23 years old. But unlike you, i didnt do any research into real estate investment, i just listened to all those over-night mortgage and realtor businesses and rush into to buying my first house, 490k. I was offered, no money down...blah blah blah. Well, I unsure what to do, i did the 10% down and took my 25k, with my parents 25k and bought that house. Cleaning out my savings.
3 years later, in 08, my house was worth less then 250k. My mom who was living in the house with me passed away, lost a source of income. One thing led to another, and foreclosure here I come.
Luckily, I saw what was going to happened, and bought another house, althought higher then I'll liked, right before i stopped making payments on my first house.
Also, i kept my wifes name out of everything at first and we also bought an investment under her name, renting to my dad (no positive cash flow, come on... its my dad! haha).
Anyways, do finsih your degree, althought I am not working in my field at the current time. Explore all opportunities but remember... CASH IS KING. Use as little as you can of your cash, and a lession Ive learned well, CREDIT IS KING ALSO!
As long as you have these two items in check, I think you will do fine. Im no experienced investor, Im a newby also. So good luck and keep me inform of your investments. I'll do the same, Peace!
