Updated 3 months ago on . Most recent reply
Can I really get wealthy?
Just got a 56k job in westchester county NY and I'm still living with my parents. I'm 28 and spend about 1500 a month in expenses. Can I really invest in real estate? What would be the best route? FHA loan? Short tem rental? Invest elsewhere than NY? Condo? Invest in stocks?
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- Somewhere over the Rainbow
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#2 Market Trends & Data Contributor
- Rental Property Investor
- Somewhere over the Rainbow
What's the $1500 a month for since you're living with your parents?
Side note - living with family is a really underrated 'get wealthy' tactic. For some reason the US pushes independence the day you turn 18. That's literally the hardest way to do things.
If I was you, personally I'd invest in the stock market for now. Then I would use RE to diversify. Take the extra time you are saving from investing in stocks over RE and look into creating/buying/owning a business - ideally a service based business.
What field is your job in?