19 y/o brand new to this any advice?

19 y/o brand new to this any advice?

Chicago, IL · Member since 2020 · 1 post · 0 votes

19 y/o in the Chicago area any advice for starting things up?

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Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
5y

@Drew Flowers welcome to the forums! You are in the right starting place here to learn about the city and the surrounding areas. I would check out the Straight Up Chicago Investing Podcast that @Mark Ainley and @Tom Shallcross host. You should also find some local meetups. There are a lot of great meetups locally that you can join (virtually right now). Once you know the lay of the land you can make decisions on your investing strategy. 

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  • Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    5y

    @Drew Flowers welcome to the forums! You are in the right starting place here to learn about the city and the surrounding areas. I would check out the Straight Up Chicago Investing Podcast that @Mark Ainley and @Tom Shallcross host. You should also find some local meetups. There are a lot of great meetups locally that you can join (virtually right now). Once you know the lay of the land you can make decisions on your investing strategy. 

  • Victor SoBusiness Member
    Real Estate Agent · Chicago, IL · Member since 2017 · 325 posts · 193 votes
    5y

    @Drew Flowers

    Househack! I wish I did this when I was in college. If I could go back, I would buy a SFH and find roommates to help pay off the mortgage.

    Victor So Real Estate LLC517 Reviews
  • Investor · Cincinnati, OH · Member since 2018 · 304 posts · 185 votes
    5y

    Welcome! Educate yourself with the forums, real estate rookie podcast, books in the BP bookstore, introduce yourself to other investors. Learn and narrow down what type of real estate you would like to go into. Try to make investment goals for yourself like how much cashflow, COC ROI, etc you want to target. Also become an expert on the numbers... use the BP calculator to start understanding how to determine if a property produces good returns or not.

    As recommended, house hack is great reduce / eliminate your personal housing expenses.

  • Minneapolis, MN · Member since 2020 · 94 posts · 161 votes
    5y

    Get solid, consistent W2 income and the house hack. Having some real income and tenants paying down your living expense will make every other strategy you learn about WAY less of an uphill battle. 

  • Investor · NH · Member since 2020 · 175 posts · 75 votes
    5y

    I agree with everyone above - house hack! I am 20 and am about to start mine once I get out of school. I would be doing it now, but I go to school in NYC which makes it nearly impossible. Educate yourself as much as you can - listen to podcasts, ask questions on the forums, read books. After that, take action! Don't sit on the sidelines, experience is the best teacher.

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