Next steps as an 18 year old?

3 Replies

Hello,

I'm seeking some advice from experienced investors if possible.

I'm currently 18, living with my parents, doing both college and work full-time, my college is paid for by my employer. I've been interested in investing for the longest, and I'm wondering what I should do in my next steps? I'm looking for long term cash flowing properties and debating whether to start now or wait till I graduate college and have a steadier job.

More details needed. What kind of capital do you have? Credit? Best time to start was 2010 next best time is now. Being a young college guy if you could even manage to rent a house which you could then rent rooms to pay your rent that would be a great start. Any chance parents would help you out? Lets say you can rent a 3 bed house for 1k and rent 2 rooms for 500 a piece your living rent free and getting the feel for a house hack. Another option would be to air bnb rooms and generate 1k a room per month and now your making money. Opportunity is everywhere you just have to go for it. Take some risk and know you can always lick your wounds and move back in with mom.

@Haroon Qamar

I personally believe in all markets there are always properties that give you cash flow.

As far as good time to start: my personal opinion is to start ASAP. I do not believe in waiting for a right time as I do not know what that is or when will that be. For me a good time is when I see a property that would fit my criteria in the location I am looking at.

Happy to talk and share more of my failures (a.k.a experiences)....

@Noel R. I have about $2000 in savings and $200 in my 401k. I have a couple credit cards that I've been churning for rewards and using to build credit. No loans in my name anymore, paid off my car in may. I make about $1800 gross monthly and save about $750 per month. If I were to move out my parents wouldn't help and likely wouldn't let me move back.

You think it better to jump in ASAP and rent hack? Or rather save up for a downpayment on a house and house hack down the road? I'll be graduating 2022 with a BBA in Finance debt free.