My name it Mason I am 18 and I just graduated highschool in Houston. I am saving money to hopefully use an FHA loan to purchase my first property. I am looking for any tips, advice or mentorship along the way.
Hi Mason, awesome that you are already interested in real estate. Do you have a job and/or regular income? If you do not, I would recommend getting one and to start saving as much money as you can. If you are wanting to buy ASAP, I would talk to a few lenders and have them look at your situation. They should be able to give you more specific guidance on what would be needed in order to get a loan. It may take some time, but you will at least have some clarity on what you need to do.
Last, I would recommend to look in to house-hacking for your first property. For example, buying a house with 4 bedrooms and renting out the other bedrooms to friends. Good luck!
Hi Mason, awesome that you are already interested in real estate. Do you have a job and/or regular income? If you do not, I would recommend getting one and to start saving as much money as you can. If you are wanting to buy ASAP, I would talk to a few lenders and have them look at your situation. They should be able to give you more specific guidance on what would be needed in order to get a loan. It may take some time, but you will at least have some clarity on what you need to do.
Last, I would recommend to look in to house-hacking for your first property. For example, buying a house with 4 bedrooms and renting out the other bedrooms to friends. Good luck!
Usually I'd tell folks newer to real estate investing to start to educate themselves through websites likes this and its family of books and podcast, other real estate podcast, books at the library, and local meetups. This helps them learn what strategy they want to deploy, and have the confidence and knowledge to do it.
I also usually tell them to pay off any consumer debt, save an emergency fund, and start saving for a new property.
But for you, I'd advise spending the next few years setting up yourself up for the highest income possible over the course of your life. What that looks like is up to you, but having a large income makes investing so much easier and faster. Also, I'd start good personal finance habits now so you don't have a bunch of debt later on when you're ready to start buying property.
My name it Mason I am 18 and I just graduated highschool in Houston. I am saving money to hopefully use an FHA loan to purchase my first property. I am looking for any tips, advice or mentorship along the way.
Hi Mason,
Would you be interested in being introduced to add a successful out-of-state BRRRR investor that knows how to raise all of the capital to purchase the properties they work on? Email me if that is the kind of person you would like to speak to and I'll make an introduction.