New Illinois investor needs help - Posted by Chad

Posted by Rose on March 17, 2001 at 10:50:48:

Chad, don’t let your age stop you. Not very many at your age don’t even think about these opportunities. If you are worried about renting it out, here is another option to possibility.

I have a son 23, who is in college also but owns a house (4bedrm) close to college. He lives in master bedroom and rents 3 other rooms to his friends. The house is paying by itself practically and he gained atleast $60k equity by being there since he is 19.

His dad cosigned the loan for him since he couldn’t get a loan when he was only 19. If you make payments every month you can establish a good credit. If you are a college student, you have more possibility of renting it out rooms and have a better positive cashflow if this works for you. Hope that helps.

New Illinois investor needs help - Posted by Chad

Posted by Chad on March 15, 2001 at 23:30:53:

Hello everyone,

I am new to this site and this field. I have gone through Carletons program twice now in the last few months and just cant seemt to get started. Im only 21 and think people will just not take me serously. My biggest fear is that since I have no money and no credit that if I do buy a property no money down what happens if I can’t get it rented in time to make the first mortgage payments to the seller. I’m in college and dont have that kind of cash lying around. So I guess I’m looking for a little inspiration and help from some of you that have been doing this awhile and have had it work. I need a push to get me started however the other post I have read are helpful. What is the best route for me to take rentals, lease-options, flipping? Furthermore, I live in Illinois, a south suburb of Chicago and would like to form partnerships and join invenstment clubs as Carleton suggests in his course so if anyone is interested or has any useful informaition please reply. Also any correspondence would be appreciated (
Happy Investing,