Where would you start if you were 18?

Question

Hi there!

I’m currently 18 years old from San Diego, CA going to my first year of college. I’m currently working on my Real Estate license just waiting for an exam date!

I’m very interested in Real Estate and all the possibilities along with it! I’ve done endless research for months now to start in wholesaling as a side hustle, to save to eventually invest in properties.

I just wanted to ask investors what they would do if they were in my shoes?

Any response will help, just hoping to get some words from the experienced!

Thank you!

Bill B. · Answer

Buy a house and get friends/coworkers/fellow students to rent rooms that more than covered my mortgage payment. Thus is exactly hiw I started when I left my parents. I had never paid rent before and didn’t want to develop any bad habits.

Sarah Gonzalez · Answer

@Twana Rasoul

Yes! This is something I’m considering! I’m currently working to build my credit! Thank you!

Theresa Harris · Answer

In a perfect world, I'd buy a place where I can live in one part and rent the other (basement suite, duplex, etc).  I'd also rent out rooms in the part that I live in.  This should get your living expenses close to zero and allow you to save and repeat.

Twana Rasoul · Answer

@Sarah Gonzalez If you can get someone to cosign for you, assuming you couldn't qualify on your own, purchase a single family house or duplex with a low money down payment (3%-5%)  and rent out the other rooms/units to get your mortgage paid for and live for free while going to school.  During that time you will not only paid off some of your mortgage but also built some nice equity along the way.  You can graduate with a higher networth than when you started, unlike most.

Sarah Gonzalez · Answer

@Bill Brandt

Thank you! I’ll definitely consider this!

Where would you start if you were 18?

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