First Real Estate Investment Advice

1 Reply

Hi everyone,

I'm 22 years old with about 40k in savings and 5k in debt. I'm living at home for a year and start working in September making about 75k a year as a consultant. I want to get started in real estate investing, but I worry about making my entire portfolio 100% focused on real estate. I'm looking to purchase a rental property in the next year. I'm nervous as far as being a landlord goes especially as I will be traveling for work most of the time. I have doubts about taking on a mortgage at my age and whether it will affect my credit score positively or negatively. I have been following the podcasts and analyzing properties, but I'm not sure how much I want to take on.

What do you recommend for someone my age to help me avoid making my entire portfolio 100% real estate? What properties should I start with (i.e. mobile home parks, condos, duplex)? How will take a mortgage out on at my age affect my credit score? What can I be doing to prepare for when the time comes to purchase?

Thanks!