Investing given current financial situation - Posted by Brian V
Posted by Brian V on December 18, 1999 at 19:37:37:
Hello. I’m 22 and I recently graduated from college; I make 35K a year. Obviously this isn’t very much money. I am single and without extravegant expenses and no credit card debt (300/mo education loan, 280/mo car payment, 600/mo rent, 150/mo groceries,and 120/mo utilites). I roughly have 500 left over income each month that I divert to different accounts like vacation fund, mutual funds, savings, etc. I really want to get started in realestate, but I don’t have a lot of money–maybe 1500 saved. How would you recommend I get started given my financial condition. I feel that I’m wasting my money paying 600/mo to rent, but my lease won’t be up till June with a 1.5K penalty for breaking. Any suggestions for converting my current stable (but low income) financial status into a real estate money making cash cow that can eventually replace my job (I’ll always have my Bachelor degree)?