All Forum Posts by: Navya Rajput
Navya Rajput has started 6 posts and replied 30 times.
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Originally posted by @Mark Nolan:
Consider opening a ROTH IRA and then investing into real estate as the gains will grow tax free.
Hi @Mark Nolan:
As far as I know ROTH is a kind of 401k plan. And correct me if I am wrong, we cannot cash in the money from a 401k until the age of 70 or 75 years. Are you talking about some other kind of ROTH?
Thank you :)
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Originally posted by @Account Closed:
Start now, don't wait, my son started investing when he was 16 years old, he made $3,000 on his first assignment transaction. He hasn't had a real job since, he is now 39 years old and invest in bigger and more profitable transactions.
Learn how to invest creatively while using high leverage and understand the concepts of selling real estate you control (not own). When you can do this, you too will never work for another.
Good luck
Hi Charles Parrish
Thank you so much for replying. I will definitely try to start as soon as possible.
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Originally posted by @Jeff S.:
Hi Navya,
Graduating from CMU is not something to squander! Are you an engineer? My opinion (maybe not typical for BP) would be to get a corporate/techie job and start dumping money into a 401(k). Live below your means (student lifestyle with a corporate salary) and save up for a down payment. (Note that a 401(k) might be useable for a down payment.)
When you are ready to buy, then think about getting a house and renting out rooms to friends or co-workers. Or do a duplex if that works.
Just remember that a good W2 income and low personal expenses is a HUGE advantage that many other beginning real estate investors don't have.
(OTOH, if you were a philosophy major, please ignore... )
Hi Jeff
Thank you so much for the advice.
Yes I am an engineer and will be starting my job from last week of this month. I have heard that I cannot cash in the money I dump to 401(k) until I am 70 or 75? If that's the case then how exactly can I use the 401(k) money as my down payment?
I will definitely try to save as much as I can.
Thank you :)
Regards
Navya
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Originally posted by @Jay Hinrichs:
@Navya Rajput first thing a smart kid like you should do is get a RE license in your state even if you never use it.. but if you do it will help you earn while you learn...
there is a progression I RE and selling it usually leads to investing in it and being successful.
now if your not going to think of it as a career then just doing it part time so you have MLS access in my mind will pay for itself over time.
Hi Jeff
Thank you so much for responding.
I am an international student and still under the process of acquiring my EAD( Employment Authorization), SSN and other docs. Are there any prerequisites for RE license?
Thank you :)
Regards
Navya
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Originally posted by @Matthew Kelsey:
Hi Navya! First step is to read @Brandon Turner book on no and low money down investing. I would highly suggest going to local real estate investment meetings to start. Find the people there that are doing a bunch of deals and offer to partner with them. Most investors will go 50/50 with you on a deal and provide 100% funding for project where numbers make sense.
Inspiration: I am 25 and have been able to secure 5 properties so far and looking to add more asap. Creative financing and confidence is key.
Hi Mathhew
Thank you so much for the advice. I will definitely read the book.
Is there a specific website to find local real estate investment meetings ? Are there any eligibility criteria for attending these meetings?
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Hi Brandon
Will surely go through the courses as well.
Thank you :)
Regards
Navya
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Hi Stephen
Thank you for the advice. :)
Thanks :)
Regards
Navya
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Hi Cal
Thank you so much for the information.
Thank you :)
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Hi Garrett
I really appreciate your response. I am 24 and want to learn as much as I can about the real estate investment. Are you also in MA?
Thank you :)
Post: Advice on starting into real estate investment at an early age
- Westborough, MA
- Posts 30
- Votes 6
Hi
I am Navya Raput and I am a graduate from Carnegie Mellon University. I have a strong interest in real estate investment. I have even read books on the same topic. Most of the books tell you about the strategy on buying and analyzing the property but none tells you about how to get into this type of investment. For a new college grad like me, I have limited money to spend and so the biggest question is - "Is there a possibility for me to start to invest right away? OR should I accrue enough to buy my first property first and then pace up my investment in properties?
Thank you :)
Regards
Navya