Updated over 10 years ago on . Most recent reply
Stepping Forth Into Real Esate
Hi! I live in Lexington, Ky and I've been looking into real estate for some time I just don't know exactly where to begin. I know Kentucky is different than other places like NY or Cali where I can find info on what to do left and right, so I would love some help from everyone but especially the locals. I'm 18 and about to graduate high school (I wanted to start the business young), so I don't have too much capital to work with at this time. If you have ANY suggestions on how to really start out or who to go talk to here as a mentor or anything please let me know! Thank you! Look forward to your comments.
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James Wise
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James Wise#4 All Forums Contributor
#4 All Forums Contributor
- Real Estate Broker
- Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH
Welcome to the site.
A few things I would recommend to get started.
1. Get some w2 income and save as much as possible.
2. Open a credit card to establish credit, use it every month and pay it off every month so you avoid interest payments.
3. After doing the above two for awhile look for a duplex or large single home. Buy it using an FHA loan, rent out the other side or spare bedrooms. Have your tenants pay your mortgage for you.
P.S. also look into becoming a real estate agent as well.
Good luck.