All Forum Posts by: Denzel Washington

As a recent graduate, I'm hoping to gain more perspective on situational and financial limitations that stop people from making certain investments. 

At the moment, I'm trying to figure out why most young people or people in general who work in the metropolitan areas in their respective cities seem to be uninterested in starting their real estate journey with condo investments.

For instance, if rent for a 1 BD 1 BTH apartment is typically around 1.25k - 1.6k a month for a certain area near a metropolitan area and condos in the same area (or better) are for sale around 250-350k with an estimated monthly mortgage of 1k to 1.6k. Would it not be an obviously good move to start your real estate investment journey buy purchasing a condo so that 1k to 1.6k you would've spent on rent can go into building equity in your first property? I'm also aware of fees that may come with condo's that cover up keep and etc. Even if you happened to move in 2-4 years, you can now hold that property as investment property, hire a property management company and now you have your first property. 

I know that down payments can hinder some, but what if the person had a decent amount of money saved. And even so, couldn't the person apply for an FHA loan (assuming they are a first time home buyer) that could help decrease the required down payment to make it less financially stressful for the initial investment into the property?

I personally am moving to a new city that has great growth ahead of it. I'm currently interested in starting my journey in real estate doing something similar as mentioned above and would love to chat with someone about the details, what I should consider, and how best to analyze if this type of investment makes sense. 

@Kyle Baird this is awesome. I'm moving to Charlotte soon as well for a consulting analyst position. It seems to have phenomenal potential in the real estate realm. I'd love to connect with you and exchange knowledge and perspective through both of our real estate investing journeys! 

 has that been your experience thus far? ... daunting lol.

@David Schwan Thanks David

@Geri Vaughn Thanks Geri!

 about 10-25K. why do you recommend this? is wanting to make my first investment by 23 too much of a reach? I also have a sister who lives there currently who is looking to co-invest with me. I was hoping to find a duplex to invest in where she can rent one side and maintain tenants. 

@luka 

@Luka Milicevic I would definitely like that! Is there another way I can contact you when the fall hits or do you check this site frequently? I will definitely keep a note to reach out to you when I get back!

@Luka Milicevic Thank you haha. I'm studying at Vanderbilt University. I'll be back in Tennessee in the fall and not sure where life will take me after this school year as I will be finished after the Spring. But I'm most interested in real estate in New Orleans because it's my most consistent home base and seems  to be easiest managing being that I have a lot of family there to do any needed ground work I may need. And thank you for the suggestions! it's funny because I was just looking for podcast to listen to to gain more knowledge while doing a few of the tedious task at my internship. I see that you are located in Nashville as well, thats awesome.

Hello, My name is Denzel. I am a college student (soon to be alumnus) studying engineering. I am interested in learning about real estate to use as a tool for financial security for my family as well as a second source of income. I am located in Nashville, TN at the moment but am rooted in New Orleans.  I am an eager learner and hard working. I have worked in various internship and saved large amounts of money from various business endeavors but have been stuck with figuring out ways to make the money work for me as opposed to just sitting in my savings account. I look forward to networking and learning a lot from participating on this site.  My goal is to have made my first investment by age 23. I am currently 21.