I want to invest...

**mciau** · 02-10-2009, 05:38 PM

But i dont know where to start....I am 21 years old and my credit is good...i am currently trying to buy a house or a forclosed house. But i have no idea where to start... i have been looking at some house with my friend who is buying a house and the properties that i have seen with him are not in the best condition, which i understand because the houses have been empty for a long time. I understand that the down payment for a house should be 20 to 30 % of the whole price. To be honest... i dont know where to start...or what type of loan is recomended for me. Is it better to invest with a partner or by myself? Should i get someone to help me with how i should invest my money?? Any information will help.

**AugustaREGroup** · 02-10-2009, 05:51 PM

get a mentor, or hook up with a real estate agent that works with investors!

Good luck, I bought my first investment property at 20. Great age to start

**mciau** · 02-10-2009, 05:54 PM

do you recomend for me to try and find one on this site? or would it be better for me for go to my local real estate office?

**aikenrea** · 02-10-2009, 07:10 PM

The best way to start is to get yourself a type of property that you are willing to work. Do you want to fix up a home and have a long term investment by living in it for two years and then sell? or Do you want to buy a home, repair it and sell it to make a certain profit say $5,000 or $10,000 after all repairs and fees? or Are you looking for a long term profit of rent?

After you find out which is better for you, then you have to work with formulas on how much to spend and what you will either sell it for or rent it for?

Finding a investor agent is great but make sure you do your homework to see if the house is really worth the investment.

Good Luck. Let me know if you need anymore help.

**AugustaREGroup** · 02-10-2009, 07:33 PM

Where are you located?

Best place to start looking is the web in general. An agent that is good will also have a good web presence. Check out here, activerain, real estate webmasters, etc.

**aikenrea** · 02-10-2009, 07:54 PM

I am not sure if that post is to me but I am a Realtor in Aiken, SC. I am not sure why it is showing up renter under my login name. I will get that fixed.

**AugustaREGroup** · 02-10-2009, 09:14 PM

renter equals the number of posts you have on the forum.

**mciau** · 05-11-2009, 10:45 AM

Originally Posted by aikenrea

The best way to start is to get yourself a type of property that you are willing to work. Do you want to fix up a home and have a long term investment by living in it for two years and then sell? or Do you want to buy a home, repair it and sell it to make a certain profit say $5,000 or $10,000 after all repairs and fees? or Are you looking for a long term profit of rent?

After you find out which is better for you, then you have to work with formulas on how much to spend and what you will either sell it for or rent it for?

Finding a investor agent is great but make sure you do your homework to see if the house is really worth the investment.

Good Luck. Let me know if you need anymore help.

I was looking for more of a long term rent income, but also a place where i can live, i am starting training with an agent from Century 21 who is charging me a fee which is understandable ....

Do all starting agents have to pay that fee?? As far as investing in your self and buying office space and obtaining the business cards and all that??

**mciau** · 05-12-2009, 05:11 PM

Originally Posted by roylhanie

20 years old? 21 years old? thats reallllly young to start buty also very good. Im also 21 and i wanna be a rea lestate investor because thats were all the wealth is. What do you do for money to pay off the mortgage that you would be obtaining at such a young age?

well at the moment i am a Web Producer for automotive.com and i have that income but i am also saving some $ because i know its going to be hard specially if im trying to do this by my self... but im looking to gain some income when i start working with Century 21

**mciau** · 05-12-2009, 05:50 PM

Originally Posted by roylhanie

THANKS A LOT A REALLY APPRECIATE IT!! any marketing ideas? besides this forum ofcourse lol

well... there are many features that Google and yahoo offer... u might have to do a little more research on it... but they have some applications that you might be able to use for free. Also...can u advertise on ur site?? because if u do... u can get some html codes and insert them on ur site to get $... this all takes some time to do... but its just a way to make a little bit of $ from ur site...as far as marketing ... i would suggest to put ur site on places like craigslist,myspace, facebook, which seems to attract the younger crowds (like myself) lol but other than that... just try to post ur website anywhere and everywhere you go, but you should definitelly check out those HTML codes they might make u some $