Want to start investing in some RE, looking for some advice.
Hey monkeys –
First off, want to thank everyone for reading and helping me out here. Long story short, I'm going to be an ER SA starting in June covering REITs. After tax, I should be making around 10k for the summer. My parents are going to match my comp. and I have another ~10k or so saved up (leaving me w/ around ~30k to invest). I wanted to get your guys opinions on what options I possibly have (if it's even reasonable/possible). I apologize for any naïveté in this post, but I've gotten some great advise here in the past.
Thanks.
Beer. You're a student. Go meet girls and drink beer while you can. Don't be so serious yet.
What's wrong with an undergrad student being serious? I've enjoyed my college experience for the last 3 years and continue to do so. But, great advice man!
Look man, I was super serious in undergrad too. I bought a house about 7 months after graduation. It's been a pain in my ass ever since because I didn't know anything, had no clue what I was doing, didn't understand how neighborhoods work and school districts and all of that bullshit. Don't buy houses as a college student, it's just not a good idea. What I would do, honestly: Fund your Roth IRA for this year, put next years funding in an account that you wont touch, then buy a keg and make some friends. Enjoy college for your last year. Take an awesome trip, semester abroad, meet a lot of girls, whatever. You WILL NOT have another opportunity to do that, barring business school possibly.
TL:DR Crush your internship like Slothrop said, FBGM, get a real job and live in the real world a bit before you start buying hard assets.
This is all assuming, btw, that you don't have any student debt. And that a bank would even give you a loan(not likely).
thexaspect thanks for the advice. This is exactly what I was looking for. Just wanted to see if it was even a good idea / option. Appreciate the help.
Go buy some section 8 in the lower 9th ward of New Orleans. I hear you can buy those at 14 caps! Maybe you can get your mommy and daddy to throw in 90% with a 5% pref!
Listen to it. Don't plunk down your cash into some shitty, illiquid hard asset while you're a student who doesn't even know with certainty where you'll be living in 18 months. Do what thexaspect said - take the money you're making and have some fun with it.
Bust your ass and crush your internship while you're at it. Feel free to revisit this concept after you've spent a couple years in the real world.
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