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Old Posted Dec 7, 2010, 4:36 PM
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VivaLFuego VivaLFuego is offline
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Join Date: Feb 2005
Location: Blue Island
Posts: 6,453
^ I'd advise being VERY careful accumulating any student loan debt. $50-100k in student loans (both the debt on your credit report and the monthly payments from your budget) will be a substantial hindrance when you're trying to get loans for multi-unit buildings, put down cash to pick up a vacant lot, and so on.

In general, I think the advice has been sound: start small, building a portfolio of smaller rental properties. These act as collateral and as cash flow to support you gradually moving to bigger and bigger projects.

Balance your "free work" (which youre doing for fun and your own advancement) with the fact that you will actually need some income to get in the game --- you'll need some cash for those vacant lots, and as a down payment on that first three-flat.

Last edited by VivaLFuego; Dec 7, 2010 at 4:48 PM.
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