I was told that it is very possible to get started in the real estate industry at my age. Im 20 still in college (no loans). I make about 1500 a month and have about 4k in credit cards un touched. Is there anyway possible for me to get started in real estate?
This is a fairly common question, so you may glean a lot more information than what we can answer in just on thread if you go ahead and surf the other threads.
You can start by birddogging. Head to the Bird Dogs/Wholesaling section of the forum. This might be a good way for you to make some money without expanding too much cash in the beginning and then you can work your way up as you make more money.
Well it depends what you want to do in the real estate buisness if you want to flip houses and you don’t currently own a home, my advice is to buy a house and live in while you flip it that way you get the lower interest rate and you can fix it up as you have the money. Not to mention you get the benefits of a tax write off for owning a home. Just remeber money you make on the home you may have to pay capital gains on. I guess it also depends on where you live. Where I live making 1500 dollars a month you can flip a house and make some good money on it. If you would like us to see what kind of loan you would qualify for please contact me. Also if you need any advice, for a personal buisness I am a landlord and rehabber. Just be ready to use those credit cards:)!
You may remember from history the quote of Will Rogers “Buy land they ain’t
making anymore of the stuff.” You are in an excellent position with your good
credit and young age. Look for foreclosure deals, tax deed sales, etc. and then
buy your first property. Be sure to do the due dilligence on the property
“before” you buy. You don’t want any hidden loans, liens to spoil your profit.
Get started slowly and learn as you go. I wish you the best !