Hazleton, PA · Member since 2016 · 3 posts · 0 votes
I would like to know what should I start to learn, or what are nessesary things that all investors should know. Or any thing that will give me an advantage or head start on investing
Investor · Baytown, TX · Member since 2015 · 18 posts · 3 votes
10y
I'm 19 and about to buy my first 2-4 unit apartment but haven't yet, however if I could of went back a few years with everything I've learned now just make sure you're always learning, reading, etc, don't spend your money on stupid things like cars and clothes, if you get a job and keep saving you should have money for a 5% down payment on a property by 18 or so, if you're going to college you can buy a 2-4 unit (duplex-4 plex) or a cheap house and rent out the other rooms, that can go in general too not just with college, and don't buy a brand new car, get at least 3 years old because a car loses 40 percent of its value over those years, you can get a very low mileage older car if you hunt for it, new cars are financial suicide to young people, ideally don't spend more than 10% of your income a vehicle per year, that may be hard depending on what you do, and invest every penny you can while maintaining a safety net (at least a couple thousand dollars to cover expenses, etc) that way you don't have to pay abhorrent credit card interest rates.etc
Professional · Lowell, MA · Member since 2014 · 232 posts · 223 votes
10y
15?? Congratulations! How did the idea of Real Estate Investing ever occur to you?
at 15, I was thinking about part time work. Go find a decent property management company and get a PT job with them. You'll clean some garbage and you'll do a ton of grunt work. It'll be hard work and not always fun. HOWEVER when you look back about a year later, you'll realize that you've already learned a TON about buildings, systems, building codes, markets, finance, rental laws and above all, the importance of relationships. Build your later work on all the experiences of this place.
Always be respectful, keep your head up and your ears open. Volunteer for EVERYTHING and you'll do well.