Begginner - Where Do I Start?
I recently graduated college and want to start investing my money to earn a little extra cash each month. However, I live in a high cost area so buying a home is on the bottom of the list. However, I have been thinking about the following:
Investing in cheap land
Investing in an apartment complex in my home town
Investing in options
Any advice on which option would require the least amount of money and hassle but still generate a small amount of cash flow?
Thanks for answer!
I thought I would jump in here, and give your thoughts a little shove hopefully in the right direction. You might look into investing in a 2or 4 plex. That way your tenants can pay for your mortgage and you can live in one of the other units. You might also check into engaging a property management company. That way you would be protected at least in two possible scenerios, one(1) the other tenants wouldn't know that you owned the property, which would alleviate a lot of sleepless nights with landlording responsibilities, and two(2), the possibilities with lawsuites due to falls on your property. Which for that you will want to look into puting the property itself in a land trust. But, you can read up on all this on your own if you so desire. I congradulate you on your goal of completing college. I know you probably had many great experiences. that will last you a lifetime. Best wishes .