I have been reading on and off and was just wondering how should I get started I am 24 years old I own my home (360,000) payed off. I also have a stock investment portfolio with an estimated worth of almost a million dollars and an annuity scheduled over the next 40 or so years. my monthly expenses are around 2,600 a month my main reason in posting is because I wanted to Know where should I start in real estate? adding an investment property or fixing a home/selling has interested me for a while now and I would like to expand my knowledge in other forms of investments(real estate).I am looking for any knowledge/thoughts.
thank you for any replies.
you might try to purchase a simple straightforward single family rental property in order to get into the flow and learn a few steps ....leverage it so as not to have to put lots of cash into it
Sounds like you're in a very good position. In fact, if your situation (at age 24) is due to your own actions, dedicated savings, savvy investing, and wealth-building knowledge, you probably should be giving us advice lol.
That said, if you are still interested in REI, find a reasonably-priced property that you can afford to make some mistakes on, and BRRRR it.
Best of luck though!!