Need a home but also want to start real estate investing.
by Shari Francis
(Moving to ON from NS soon.)
I am very interested in real estate investing and I have been doing some research on this before going ahead with it.
I want to start investing within the next two years.
I'm 22 years old and I have a job that pays decently about $50,000/yr. I still have some some student debt but I should have it paid off in about six months.
After that I will have about $900 month extra. I intend to save money to start investing in properties however I don't own a home (or car) and it wouldn't be sensible to buy a home I intend to rent when I don't have a place of my own.
I don't think the bank would lend me enough money to buy a duplex or a home big enough to rent out a portion of it.
So my question is this; how do you suggest I get started in real estate investing, given the situation of needing my own home?
Most of the articles I read on real estate investing assume that a person is somewhat settled, but I've not come across any articles advising people in situations similar to mine.
I haven't gone through all your articles on about.com so I apologize if the answer to my question is somewhere in there but if you could please point me in the right direction I would appreciate it.