How did your journey start?

Question

Thomas S. · Answer

Concentrate on savings, living frugally will be your best approach to increasing savings. You need a good full time job to support investing. If you have debt, student or credit, work at clearing all bad debt first and increase your credit score.

Personal home owner ship is not a investment it is a liability so if you wish to invest concentrate on that first. House hacking for a few years is you best starting point.

Buy a personal home after you reach a point in investing where you have surplus cash and no desire to grow your investment any farther.

Scott Dixon · Answer

@Francois Acosta

Congrats on starting to think about investing at such an early age!  I started off investing at age 28 by house hacking a duplex and living in one side for about 1.5 years until I bought the 2nd investment property.  Although I am not familiar with your specific market be very careful to look back 10+ years at the pricing trends.  None of us can successfully forecast the future but smart money is leaning towards the housing market is inflated and even approaching the "bubble" territory.

Your best move might be focusing on things like:  education, networking,  and helping an experienced investor/mentor.  This will position yourself well so if the market does take a sharp decline you will be positioned to take advantage.

All the best,

Scott Dixon