All Forum Posts by: Fong Lee

Thanks for the reply Nathan. Should I consider to take a real estate license and make that my side job to increase my income.

Hello Everyone. Quick introduction, my name is Fong Lee as of now I am 24 years old. I am new to Real Estate Investing. I live in Saint Paul, Mn area. I have not done any deals yet but I do see potential in ownership of properties. I would like guidance from everyone on how I should start off. Like any other young adults, I did waste the past couple years on having fun and blowing my money away. But suddenly something in my head sparked and I been thinking about real estate for the past 3 months and went to defensive mode on money management and stayed conservative as much as possible. Couple years ago I racked up some credit card debt and have been late on it all the time and some even went to collection. I recently just settle all my debt and now I am debt free. My credit score hasnt went up yet and its still been around the 550 range. As of now I have 5K on me and just started being conservative on my money. I have one daily driver car with 9K left to pay. Another car under my name and will be done in 2021, this second car is my dads car, I cosigned but dont actually pay for it. No late payments ever on these car payments. I would say after paying bills I would be able to save any where from 10-15K per year. I did already learn alot about Real estate terms too. Im debating if I should take a FHA Loan on my first purchase or a conventional. Any ideas if I should wait for my credit to recover or save more money first. I know im not the best out there but I decide that I want to be financially free. I want feedback even if its good or bad. Thanks everyone, hopefully my goals will be met one by one and get all your support.