What to invest in as a 23 year old?

[Sean Agid]

I am 23 years old and I would like to invest in real estate.  I am not a homeowner but I do have good credit.  I am thinking about buying a multifamily home in order to collect additional income from rent.  I plan I saving 50% of rent income for repairs & turnover and use the remaining to pay off mortgage, taxes and insurance.  

Any thoughts or advice?

Sean

[Anthony Thompson]

Sean, it sounds like you're off to a good start! As James said, Bigger Pockets has many good resources to help you with your goals.

I'd recommend: Start small (e.g., a SF you won't live in or a duplex), learn, then do it again until you're comfortable and only then move up (3, 4 or more units).

I'd also recommend networking with other real estate investors in your area. For example, the RI Real Estate Investors Group (rireig.com) has a meeting this evening, and Black Diamond Real Estate Investors (blackdiamondrei.com) in southern Mass meets twice a month.

I recommend those two groups because they are educational and don't try to sell you things. You're looking for contractor recommendations, the latest news on legal issues affecting landlords, and lots of other related things that will come up if you attend meetings like those regularly.

Between BP and local networking you should have a lot to get started with. Good luck, and you can always post specific questions here on BP too of course.