Newbie investor help?

Question

hey BP my name is Charles from the state of Michigan.. i just have a few questions on getting started in investing at a young age.. What would you say would be the best route for a 19 yr old to get his first investment property? ive heard things like FHA and private money lenders.. what do you think she be my first step at a young age like i am currently (19)

Josh Carr · Answer

@Charles Penn The Wayne County Treasurer is where you will go for this.  This is this years time line.

There are several foreclosure listings subject to Tax Foreclosure here

http://waynecounty.com/treasurer/forfeited-propert...

Jerry W. · Answer

@Charles Penn, that will depend a lot on your situation.  If you have a job you might look into a small duplex or single family residence as your first home.  You can rent the other side of a duplex, and even rent out rooms in a house you own to reduce what you pay in mortgage payments.  As a first time home buyer they have a lot of low money down programs.  They call it house hacking now.  You can actually buy up a 4 plex and still qualify for a lot of programs.  You have to have a place to rent anyhow, so you might as well buy a place and have others make the mortgage payment.  Make sure you do your due diligence and make sure you know the neighborhoods you will be bying in.  Good luck.

Andrew Schmidt · Answer

Tax auctions typically occur once or twice a year. The Wayne Country Treasurer website contains the information for tax auctions in your area. Please let me know if I can be of any further assistance to you!

http://www.waynecounty.com/treasurer/index.htm

Charles Penn · Answer

Hey Andrew, thank you! Where would I go to locate the tax auction dates and things? @Andrew Schmidt