Realtor · Madison, IN · Member since 2017 · 3 posts · 0 votes
My name is Kenneth and I am a 20 year old from Indiana. I just recently bought a home for 57000 and put 10% down. I then spent about 10,000 on a new roof and complete bathroom rehab. My savings were pretty much exhausted after this. I am currently on a deployment through the national guard and am expecting to return home with about 10,000 dollars. I am considering getting my real estate license. I told myself I was going to pay off my current house early but now am debating if I should save up for my next deal. I really want to get a rental property but I dont have a ton of cash flow(I work at Lowes). Im just trying to soak in and learn all I can so any advice or insight would be much appreciated!
Rental Property Investor · Denver, CO · Member since 2017 · 70 posts · 28 votes
8y
Firstly, you are doing great already. It’s always tough to say what someone should do because your personal situation is specifically yours. But I would study and try to reduce expenses. More cash always gives your more options. House hacking would be ideal. Getting your RE license is a great idea. Good luck to you!
Rental Property Investor · Round Rock, TX · Member since 2016 · 1k+ posts · 971 votes
8y
Read the book "Set for Life" by Scott Trench - that is a good start.
You are young - get more deals. But make sure you have first your debt under good control, and good personal reserves and for rentals (6+ months of PITI).