I am a 21 year old girl , and I want to purchase a property (preferably an apartment / condo) I have been doing research but there are so many conflicting thoughts and opinions out there. Can anyone please take the time out of their day and give me a few important types, as well as things to think of etc... I would appreciate that very very much !  

One thought, avoid condos.  You lose too much control of the deal.

Originally posted by @Greg Scott :

One thought, avoid condos.  You lose too much control of the deal.

Hey Greg, I'm new here as well. Why do you say lose control of the deal?  

Condos have a home Owners Associations.  HOAs can dictate the activity within their area they control... like whether you can rent your unit, and a slew of other things... from house colors to when roofs must be replaced and so on.  So the original responder was saying HOAs are best avoided. 

The alternative to a condo for you would be a Duplex... gives you 2 units for one loan... if one person moves out,your mortgage is still covered by the other side.  

Consider “house hacking” which is where you live in one side and rent out the other, effectively making the part of the  mortgage payment you pay zero (Your renter next door pays it for you).

You need to learn what a good deal looks like... not just buy a property to own it. Learn what PITI is (principal, interest, taxes, insurance) and NOI (net operating income) are. They are critical in determining the performance of your property. Compare NOIs of several different properties to make sure the one you are buying is performing well, and will actually turn a profit. Be sure to include a reserve for repairs that you set aside in another account.

Figure out what a good, bad, and Awesome NOI is for your area... for me, a deal wasn't worth it if I wasn't going to make $300 a month per door ($600 on a duplex). That number is now low for me because I finally learned the secret that a lot of your profit is made by waiting for the right deal to come along that gives you lots of equity in the property at the time of purchase. This is easier buying from a wholesaler, versus off of MLS listings.

Google things you don't know about... like "how to calculate NOI" or "what is CAP Rate". "What is wholesaling real estate" It's a quick way to educate yourself.

These are just a few things to think about... asset protection (aka. How to survive being sued) is another good one. 

happy to continue the conversation

Randy 

This may seem like a very "not smart" question, but, If I am a realtor can I still be a wholesaler?  Or is there some rule that I need to abide by or disclose?

I think @Randall Alan hit it on the head. If you're looking to buy your first property a duplex to house hack would be a great first step. This will give you an idea of what landlording is like, and you can determine if you want to continue to buy rental properties or not. House hacking is a great strategy and significantly reduces cost of living. Save, save and save for you next rental and you'll have a well built portfolio in no time. 

@Chloe Montaron

The reason why you are not clear yet is because you did not do enough research. 

1- 1st step is to read more RE books. Based on the books you read the one that interests you the most will draw to you. Then, the next decision is do you have the TIME and MONEY to pursue that type of Strategy. 
Strategy would be like; Turn Key, House Hacking, Wholesaling, Flips

There are many ways to earn money in RE, but starting off and learning 1 of them can be difficult if you do not have the skill or knowledge. 

If you need more guidance PM me and we can discuss further.