Updated over 8 years ago on . Most recent reply
Looking for some advice!!!
Ok I'm from Staten Island NY, I'm 19 and I love real estate, I plan to open a mobile car wash within a few months but I also wanna do real estate (in future) my plan is to run my business and save all my money I make from it I'll be the only worker so I should have a nice amount saved up but my goal is at 22 to go into getting my first rental house SFR or mult family, I feel it's better to do around that age because I'm dept free I live at home and all I pay is my car payment and phone bill, do you think it's to far fetch to get a rental at 22? Better yet how do I go about it I'm trying to learn more about the real estate game and I just find it's so amazing! Any points from experienced investors would help!!! ;)
Most Popular Reply
I would buy the home or up to 4 units-owner occupied (live in 1 unit) so you can get 30 year fixed money at homeowner rates (lowest). Look for something that needs cosmetic work & is not the nicest house on the block.Look for good area & under market rents.Buy BEFORE you quit your job & become self employed as then lender would want 2 years of good income from your business forcing you to pay for expensive short term $.