Updated about 5 years ago on . Most recent reply
Give an 18 year old your best advice!
I'm 18 years old and recently got licensed as an agent. Would appreciate your wisdom, knowledge, and advice when it comes to real estate investing, FI, and being a real estate agent.
Most Popular Reply
I would utilize a conventional loan to buy a duplex in a rough area that will likely develop. If you move into the property you can pay 5% down and repeat that every year. In 10 years when you've done it 10 times and the area has hugely developed you can upgrade and refinance one. Use that money to do another until you have a beautiful portfolio in a hot area. You were able to upgrade it with mortgage pay down and appreciation instead of your hard earned cash.
I understand all of this is irrelevant to you being an agent, but because you're young and likely not held down by the demand of a family and good schools you're in a good place to do this strategy.
I understand all of this is irrelevant to you being an agent, but because you're young and likely not held down by the demand of a family and good schools you're in a good place to do this strategy.