Its Burning a Hole in my Pocket...

9 Replies

Hello.

I am 17 years old and very interested in RE investing. I have 5k burning a hole in my pocket, and I am looking for places to put it. It's not a lot of money, but I am willing to work hard with what I have. 

Any suggestions?

Put it in a high yield savings account paying around 2% and study all you can about REI here on BP.

Originally posted by @James Van Dalen :

Hello.

I am 17 years old and very interested in RE investing. I have 5k burning a hole in my pocket, and I am looking for places to put it. It's not a lot of money, but I am willing to work hard with what I have. 

Any suggestions?

Congrats saving so much before 18!  

Do you have a reliable car?  Need some money for job training after HS?  Your best investment when coming out of HS is in yourself and your education. Not necessarily college (which is fine done right) but vocational or trade schools as well.

RE is great, but sometimes we have other things we need as well.  Keep saving and keep learning so maybe you can househack a homepath property or something when you turn 18. Avoid unnecessary debt.  Well done so far!

 

@James Van Dalen congrats bro! Invest in education.. Thanks to Youtube and other sources, everything you need to get your first deal. To take the I guess you could say "accelerated route" find you a mentor. I have several great partners with lots of skin in the game. I could refer you if you'd like?

Originally posted by @Jiquez Finey :

@James Van Dalen congrats bro! Invest in education.. Thanks to Youtube and other sources, everything you need to get your first deal. To take the I guess you could say "accelerated route" find you a mentor. I have several great partners with lots of skin in the game. I could refer you if you'd like?

Thank you for your reply! I would definitely appreciate any recommendations for education.  

Originally posted by @James Van Dalen :

Hello.

I am 17 years old and very interested in RE investing. I have 5k burning a hole in my pocket, and I am looking for places to put it. It's not a lot of money, but I am willing to work hard with what I have. 

Any suggestions?

Keep stacking cash till you're 18 then use it as a down payment to buy a 1-4 unit property with an FHA loan. Live in 1 room or unit while the roommates/ tenants pay off your mortgage.