Paterson, NJ · Member since 2016 · 119 posts · 18 votes
i am 24 just turn i graudated college i have 9k student loan which i will pay off in 3 months, i have a online small business. i have 120k in cash and looking to invest it asap. I have a ira im funding, i have savings and i have read real estate investing and books for 4 years now. i want to know what should i do cause i have no job yet so should i wait to get the job to buy a muti family or should i just go for it and get a co-sign. I am very ambitious and want to attack this head on should i wait or just go for it?
Real Estate Investor / Joint Venture Specialist. · Crown Point , IN · Member since 2014 · 1k+ posts · 238 votes
9y
What is your end goal? Lets find what that is and work backwards and make an action plan! BTW good job saving and being attentive to your future few people are where you are at for being 24!
Paterson, NJ · Member since 2016 · 119 posts · 18 votes
9y
@Account Closed thanks, i feel like im missing out on doing more. i want to buy muti family buy and hold, and have a large portfolio of rentals and end goal own a massive building with commercial space as well. i am waiting till the stock market hits a bad bump before i invest a little in the market for a long term.
Paterson, NJ · Member since 2016 · 119 posts · 18 votes
9y
@Michael Jacobson i read the book the richest man in Bayonne and its true your money is your workers they need to work for you. i was thinking outside the states but im use to nj area but i really want to invest in rentals and start a start up tech or brick in motor problem is their isnt alot of young ambitious people for that
Real Estate Investor / Joint Venture Specialist. · Crown Point , IN · Member since 2014 · 1k+ posts · 238 votes
9y
I feel the stock market will never be worth it haha.
We started with zero money and content based marketing geared towards private investors in order to flip more and more here in the Chicago area. We learned a lot during the first year and learned how to get burned and with that taste in our mouth we knew we had to do things differently. We knew the "flip" had to be systemized and processed and we focused on that this year. Now we have 18 private investors with all different requirements and short and long term goals. Most are changing their models to buy and holds.
Investor · Roanoke, VA · Member since 2016 · 29 posts · 8 votes
9y
@Account Closed,
Congratulations on saving so much money at your age!
I say take that cash and buy one or a couple of single family properties. You have the cash, you've done your research, what are you waiting for?! If you don't have a job, maybe you should keep some cash on the side but in reality, the rent money will become your salary. I would start smaller. I love it when I'm able to pay cash for my properties but I never had that kind of capital.
Paterson, NJ · Member since 2016 · 119 posts · 18 votes
9y
@Troy Southerland thank you for your words, but here the home prices range from 250k to 380k for single and 350k and up for muti family so paying all cash wouldn't be able to do so. i like to create and start something i always wanted rentals. i just dont know if i should wait to land a job with my degree than buy or just go for it. i like rentals i like something where my funds can work for me
Real Estate Agent · Trenton, NJ · Member since 2016 · 3 posts · 0 votes
9y
I am new here but I live in new Jersey. The further south you go from your area the cheaper the house are. Also the rent market inews New Jersey is strong.
West Orange, NJ · Member since 2016 · 9 posts · 0 votes
9y
Hey man i completely understand you situation. Im currently 25 have around 90K saved and 40k for rehab saved. I just finished college but i have a full time job so a little less time to search for properties. We should definitely connect man, maybe we can cross paths in the future.
Blairstown, NJ · Member since 2016 · 11 posts · 1 vote
9y
i'm looking into a condo. 50k. with tenants that want to stay. checking on the rent but i think its 800 or 900 per month. HOA fee of $93 a month. I can probably mortgage for 500 a month including insurance and tax with a minimal down payment.