Brand New investor looking for guidance
Hey guys,
I know you guys probably see a million posts about new investors. I am 21, saving up money for the next couple of months while I finish up college and would like to invest after graduation. In the meantime I want to read and understand things that’ll help me start my journey. My main question is:
What would you recommend to a younger version of yourself when you first started? Also any initial books or information that is essential?
Most Popular Reply
Hello Moe,
You're certainly getting off to a great start given your age!
I would recommend meeting with a mortgage banker to find out what your buying power will be once you graduate. This will allow you to narrow your focus to a specific area and/or property type. If you have trouble qualifying for a loan, I would advise you to CAREFULLY consider a co-signer. Make sure its a co-signer with similar RE and life goals and speak with an attorney to find out the best way to structure your partnership.
Regarding books: Check out the BP bookstore - the books on rental property, estimating rehab costs, etc are all great! Aside from that, Rober Kiyosaki's cashflow quadrant.
Best of luck to you moving forward!
Abel
- Abel Curiel
