Im 22 years old and read to invest in RE. But should I?
The deal is right now I live 1200 miles away from my home town where I want to invest.I want to get a few SFR. The area where I work is a sellers market and way over priced. I work 2 weeks on one week off 84 hours a week. I have very bad credit (500s) but no debt cuz I just payed it off. I make about 70k a year befor tax. The only payment I have right now is a cell phone bill.
So my question is do I have enough time to be involved with a REI or is one week a month not involved enough?
Will I even be able to get a loan?
What could my options be?
Is there anyone with examples of similar situations?
Have you thought about wholesaling? It is a great place to start in real estate investing.
Yea but idk if I would have the time to do that. How much time total does someone who wholesales actually put in on one deal?
Wholesaling can be done part time and take just a couple hours a day, but your business would be greatly impaired if you couldn’t do at least daily. Maybe you could find someone to partner with?
Quite honestly, if you do not have the time to invest in your success, then real estate is NOT for you. Real Estate is not an “auto pilot” business. Especially in the beginnings. It requires, Time, research, trial and error…lather, rinse, repeat…well you should get the picture.
Maybe you should visit a local REI club…get a feel for the business, discover what your true “niche” might be.
Whatever the decision, it will require the previous mentioned steps for it to be successful.
To your success! Wherever it may be. :beer