Any advice for a beginner? I’m in college with little money.

New to Real Estate · Twin Falls · Member since 2018 · 13 posts · 7 votes

I would appreciate any tips for a beginner. I’m learning what I can to be knowledgeable about investing. I’ve read Rich Dad Poor Dad, and I agree with the concept of multiple streams of passive income. My plan is to stay debt free through college, and save what I can. In my third year of college working towards a a bachelors in Business Management, and I have no debt and 7k dollars in the bank. I would appreciate any insight or tips I can use to gain financial wisdom and become successful.

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Dave FosterBusiness Member
Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
7y
Do exactly what you're doing. No short cuts. No shiny things dangled by gurus. Time is totally on your side right now. Keep trying to save and the day you land your first job celebrate by using your savings to buy an investment property.
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Ken Dayal
Investor · Jersey City, NJ · Member since 2015 · 88 posts · 31 votes
7y
Carrying @Dave Foster's comment. Job > saving > buy your first home (house / condo). There are lots of loan products for first time buyers including low down payment etc. Can do a 203k if you'd like to learn about rehabbing.
Do house hacking. Have room mate(s), have them pay you rent (your mortgage). Save and buy your second property.
I'd also advise to buy in locations where rental market will always be strong, not dependent on one type of employer or industry.
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