22 yr old with 1,000 in savings - Posted by Thinkingaboutit

Posted by Paul V on March 27, 2001 at 15:31:21:

Good Post! Lots of wisdom to follow and heed.

22 yr old with 1,000 in savings - Posted by Thinkingaboutit

Posted by Thinkingaboutit on March 11, 2001 at 15:45:36:

I have been considering ordering Carelton Sheet’s course. I have considered it because it doesn’t seem to be too risky. What are the risks in this course? None of the infomercials make the exact process clear. Am I going to be left with a property I have no way of paying for? Can someone let me know what I would be getting into. Thanks in Advance.


Re: 22 yr old with 1,000 in savings - Posted by RestLessInMilw

Posted by RestLessInMilw on March 11, 2001 at 20:33:25:

Make sure you rent it out to cover your expenses, your PITI --all your expenses–everything you can think of! What does PITI stand for? Principal, Interest, Taxes and Insurance. Read and study so you know what kind of expenses you may incur for your area that you will be buying in. And misc. expenses in genreal! RestLessInMiw@aol.com

Re: 22 yr old with 1,000 in savings - Posted by restlessInMilw

Posted by restlessInMilw on March 11, 2001 at 20:22:45:

There are always risk in everything–Everything! Knowledge is power if used correctly. Knowledge is No Fear and when you make lots of money–give back to your community! Lots of Knowledge will help you minumize risks!
I was only 18 years old when I brought my first house. This was years ago, years ago. I paid only 12,000. I had only 100 dollar monthly payments to the bank. I made 6,000 on it years ago which was a lot of money to me because I made more than I did working in a whole year!!! Every since then, I was hooked on Real Estate but one problem was, was the spouse I married. The spouse always said what do you want that for? I listened to it. I sold the place two years later for a profit. Now it listed for 46,000 recently and it would have been paid for. I could have gotten 500 to 600 a month in rent for this three bedroom room and had lots of equity in it too. I’m sick about it. The interest went down, the value went up, the rent would have gone up and I would have a paid place after 12 years and 500 to 600 cash flow. In other words do you self a favor start young, don’t let anyone tell you can’t do it, get away from negative people they are poison! Learn! Read Read Read!
Take Courses! Buy Carlton Course! Get guts!!! And just do it! The more you learn will decrease risks and tummy pain! Ask questions–get answers! You can calulate them better to prevent them. The more you know the less chance for errors. Rent out your first place and find one that you can put down only a thousand dollars. And if one person says no, keep trying! Good Luck to you. Oh and take a Real Estate Course too even if you don’t get a license. Its the knowledge. And so what if you are the youngest in the class, don’t let it get you down either! But be an investor because selling as an agent or broker isn’t any fun. You can do it! But asking about risks may be to large of a topic to discuss here because there are always risks in everything. But what doesn’t have risks? Working for someone will have plenty, you could get fired, you could get laid off, not make enough money, you could start a coffee shop and go belly up. Everything has risk! And if you Fail you try try again!! RestlessInMiw@aolcom

Re: 22 yr old with 1,000 in savings - Posted by Shaun

Posted by Shaun on March 11, 2001 at 16:52:09:

We have a friend that is that age also and with about the same amount. He didn’t buy any course. He went out and bought a used mobile home, like Lonnie says on Creonline and more than doubled his money