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Michael Kosztur
  • Ocean Springs, MS
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When is "the right time to take action"?

Michael Kosztur
  • Ocean Springs, MS
Posted Aug 25 2014, 10:17

Alright, Firstly I am new to BP and I am reading up on tons of useful information which is great! However, I have never invested before so I am at a lack of knowledge. A little background info, 19 Years old, living with my parents, working full-time and going to community college full time while also saving big portions of my paycheck for future goals and endeavors. I don't plan to invest anytime soon, perhaps in 2-3 years but in the mean-time I would like to figure out the best strategies and familiarize my self with real estate investing as much as I can. So when is "the right time" to invest? When did you begin? How much money should I have saved up beforehand before I purchase a property? How long should I hold onto a property before buying another? I intend on buying foreclosed/section 8 housing with minor work needing to be done and then renting it out to people and building my residential portfolio like that. I have so many questions but I have no one to talk to since I don't know any real estate investors personally. I just don't know where, when or how to get started! I hear that "wholesaling" properties is a good beginners tactic but I'm not sure what people mean when they say to get a property under contract. I would appreciate any help and this is only a slight percentage of the questions I have regarding REI so if anyone could recommend any beginner guides/books that would be great! I'm excited about investing in real estate and I'm not in any rush to take action for a few years but I would love to educate myself as much as possible so when I am able to take action I will know how to do so. Also, I have been thinking about becoming a real estate agent as well just to familiarize myself with inside personality of real estate and terminology however I'm not sure if that's a great idea. Fill me in on your ideas and opinions! Thanks for your time if you made it to the end of this post.

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