Apartment investment...?

5890 Views 41 Replies 12 Participants Last post by  lifeoftheparty.

I am going to be turning 19 in a few weeks and im still confused. Real estate investment is an amazing investment because you are getting income from it and also building equity. I want to start investing now. The reason im confused is would it be the right time to start and how. Also does anyone on here have experience with apartment investing. Does anyone live in the Vancouver BC area, who can help me put my foot in the door.

Also this site is amazing, i just found out about it. I wish i knew about it long time ago. Keep it up.

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Thanks for replying. I would love to get my foot in the door and get wet its just how. I do still live at home. Its just at my age its hard to get a loan, banks don't except people young as me until they see i got money coming in. Any suggestions.
what i want in the future is to own apartment buildings as an income. But if you say buying a house is the best bet in the beginning i would rent it out. Market in van isn't going to great right now. I do have a job making a miserable $12 dollars an hour, as i said i'm 18. I cant borrow money from parents or friends. So right now i think im pretty screwed. How can i get started. Thanks.
haha thanks for reminding me. You are totally right, i guess the reason why i haven't started anything is i don't have the right mind set. I have read about real estate investing. I was thinking of getting being a real estate agent first. At the moment im getting my life insurance license to. Thanks again. How did you start investing.
How did you start with investing. Did you have a career first then that made it possible to get a loan? The reason i choose apartment buildings is you get income from it while if you sell it in a few years you have created more money on the equity. Your thoughts?
wow thanks so much for this info. You said you leveraged yourself into rentals. How much money did you need to start. How much money do you think i need to start. I love having a mentor to help me out. Thanks alot.
yeah i will for sure do that, but again how much did you start with to get your first rental. Thanks so much.
Hi jibaholic101,
What did you mean by long time, 5 years or 10 years. Im thinking hold it for 2-3 years, then moving on to a bigger investment. Thanks again.
Jibacholic101- thanks for letting me know. Hopefully things will change.
Lifeoftheparty- your totally right I was invading his privacy.
I'm just so eager to get info from a exerpience investor.
Thank you for reminding me.

Zimnicki- I'm sorry for being to aggressive with questions. Again I'm so eager to get info from an investor. You truly help me alot. Thank you.
At the moment I'm so busy with work and studying for my life insurance license i haven't. Tomorrow I'm off I'm going to the library to rent books. Today later on I'm going to research on the internet. Times running out and I need to get on track. I need to save but it's hard working for $12 andnot getting much hours. I'm thinking of going to school to further my knowledge in the real estate area. Too bad we didn't live close, we could have met, and I can thank you.
Going to school I really don't want because of student loans that's going to kill me.
Thanks again. You really make me want to do it bad. It's a process but one that I am willing to take. I really got to research alot. I will keep you updated if that's ok. Thanks my name is Aneez.
so when i buy my first place i should by it for myself which creates a smaller interest rate and then later rent it out, maybe in a few months. Im going to for sure take this to a note but still do alot of other research to learn the tricks. I will for sure start small because at the moment thats all i can afford. Hopefully the market is good and the equity will really support me and allow me to invest more. Thanks alot for the info.
wow straight to the point. Thank you for that. I have started to research and i will start looking at curriculum the schools teach students. Your exactly right just like the other L4P members have posted i really need to read read read and really get the knowledge of doing business in real estate. When you say intern do you mean with a real estate agent or a investor. Thank you so much for the info. Thank you L4P members.
I wish there were someone on here that lives in vancouver thats a invest i can intern with. I dont no any investors where i live. Ill have to do some research on that.
To buy a home or condo, you need $$. Like they have said above, yours or someone else’s. Don't get to far ahead of yourself. Work on saving money for a down payment. Work your a** off and do what you have to do. Get a second job. You said you are studying for your ins. license, focus on that so you can get out and sell insurance and network that way. Build your credit! You're 18, do you have credit? If you don't, get a low limit credit card and spend a little each month and pay it off each month. Get a Best Buy card, or whatever you have up there, and buy a computer or something using the stores CC and their money at 0% for whatever term they offer. Talk to people you know who are homeowners, i.e. your parents, aunts, uncles, friends, friends of friends. I bought my first house at 22, I put 15k down, and my 30 yr. rate is 5.19%. This won't be an easy process. Focus on your insurance license and making as much money as possible now. Then when you get to the point where your income will support a mortgage, start researching all the fine details. I hope these suggestions give you a little more to think about. Good luck with your license test and make some money! Welcome to :l4p:
Thank you so much for such a detailed answer. I am focusing on my life insurance license and just researching on real estate. Gaining alot of knowledge. I am going to get a credit card in 2 weeks and build my credit up. It's a long process but i will do it. Next week i am going to go speak with a mortgage advisor for more details. Thanks Again ill keep posted how i am doing. Thank you and L4P.
3 Different places is good but make sure your organized. Your pretty solid on the investment. Thanks.
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