All Forum Posts by: Fareed Khamitov
Fareed Khamitov has started 4 posts and replied 7 times.
Post: Updating 1 and a half bathrooms to 2
- Lakeland, FL
- Posts 7
- Votes 3
Hello world.
I have a question that will probably sound stupid to most. I live in central Florida right now and I have 1 1/2 bathrooms and 3 bedrooms. 1/2 bathroom is actually in master bedroom.
Should I even consider expanding it to full bathroom? Is it a good investment all the time? Also if you have done so, any tips and things I should look out for?
Thank you
Post: Index, stock, RE or keep saving.
- Lakeland, FL
- Posts 7
- Votes 3
Originally posted by @Brendan Lawrence:
hey Fareed,
congratulations for being on the path! i personally invest in low cost index funds until i have enough money then purchase a rental property. my thought is a savings account doesn't offer anything except protection, so asides for an emergency fund, hold the money in the market (it might go down) so it has the chance to grow.
i think that by keeping in the savings account you are taking risk by not growing at all!
Good Luck
Thank you for the response.
Yes, that is exactly what I was thinking.
Post: Index, stock, RE or keep saving.
- Lakeland, FL
- Posts 7
- Votes 3
Originally posted by @Jaron Walling:
Congrats on being financially stable and making more income than me at 23! You're going in the right direction so don't be in a rush. That's when mistakes are made you're set back years. Personally I would invest in education and learning what niche of real estate you enjoy. Who says you don't find a great commercial property for sale? Maybe you're asked to invest in an apartment syndication? Without knowledge you have nothing.
Lakeland, FL is a nice area. I have a friend that lived there for 3 years. He said it was expensive but they made some cash when they sold.
That is my current plan right now, trying to read/listen and attend as much as I can. What books would you recommend?
Post: Index, stock, RE or keep saving.
- Lakeland, FL
- Posts 7
- Votes 3
Hello world.
Me and my wife are in our early 20. I am 23 she is 21. Right now we both work full time with income of around $50K annually. I am also a full time computer science student in my junior year. Right now we have car payment, mortgage on a single family house that we bought last year and no student debt.
Throughout the years we managed to save $25K. Seems like the more I read the more options we get. "Set for Life" is advising to save, invest in Index Funds and then in RE. "BRRRR" by Mr.Green is advising to save a lot and then buy house cash, and books by R.Kyiosaki are advising to start playing a little in stocks and funds to get used to investing and then get into "big" business or RE and so on. The end goal for us is real estate I know that for sure.
Now the question is: should we keep saving or start investing if not all, but part of it? What would you do in our place?
Thank you all!
Hello World!
I am looking into REI, as a part time worker and a full time college student I don't have a lot of time to commit fully. Yet.
Right now I decided on doing my "homework": research, analyze deals, read books on REI, and making connections. Which I found that is my weakest point:going out and meeting and talking to new people. As an introvert and shy person it's very hard for me to go out and talk to people about investing. Which I know is a big part of this world.
Do you have any books that helped you or that you can recommend on that topic?
Thank you in advance
Post: Young, wild and free: Start now or wait?
- Lakeland, FL
- Posts 7
- Votes 3
@Alina Trigub @Chris Szepessy Thank you all for the advices! I’ve been trying to find a good multi family to house hack, majority of them are in not the best part of the city. Most books/podcast/arcticles I read day to stay away from such purchases. What would y’all say?
Post: Young, wild and free: Start now or wait?
- Lakeland, FL
- Posts 7
- Votes 3
Hello World!
I am a 21 years old computer science student. I started listening to the BP podcast back in May and listened to a lot of episodes since then. Me and my wife both wanted to be in real estate investing for the longest time. We saved up money and now have the money to buy the house. But the market seems so high right now in my area , and almost all books that I read or podcasts that I listened are saying that "you get reach buying".
The question is: should we wait a little bit more for prices to drop a little and meanwhile invest in stocks or pull the trigger and buy a house?
Anything will help!
Thank You