Im just about to graduate from high school. I’m getting $15,000 from a settlement from my childhood with more on the way. I have no credit, no experience, and no finacual backers. The market is going good in my area and I would like to get in now while I’m young. I don’t expect the good market to last forever so I’m not exactly looking for long term investing. Could someone give me so tips to get started? I’d like to invest in my spare time while in college and latter on in my carreer.
You have several options available, however traditional lending is based off your credit/Fico. I ran into the same bit of trouble when first starting out and had to run out and grab a credit card and charge and pay off for a few months to build me credit up.
The company I work for offers several builder finance options if your looking at getting started and working directly with builders. Several offers available now by builders looking for both equity (money) and credit (fico) participants.
Feel free to keep in touch! Would love to see you get started early with investing, I wish I would have been smart enough to think as your are.
Call if you need anything.
Matt
One of the best ways to get started as an investor is to buy a duplex and live in one half. If you like having a tenant and being an investor then you can continue to buy more. Also you probably live with your parents so a duplex would be a great way to get out, and limit your bills at the same time.
My first bit of advice is not to post on an internet message board that you have some cash in hand you want to invest but don’t know how to. The wolves will be at your door in no time.
If you are a complete n00b at this, before you plunge into anything I suggest you do a bit of studying about real estate investing. There are numerous ways to invest, depending upon your preferences, your goals, your area, your financial background, etc. In other words, there is no “one size fits all”. Keep it simple and risk free to start with.
what do you want to go to college for? what are you goals?
I plan on going to college for finance. My goal is not to get rich, but to have a nice income from investments to play with. Also, what are some ways to build up credit? Are there ways to get loans without alot of credit that have reasonable interest rates? How much money does one need to seriously get into real estate investing?
Why do you not want to be rich?