but i am only 19!

Hi Eamo,

My nephew is 19 and has just bought his first house, he went in with another boy the same age. The house that they bought has a self contained flat that they will rent out to help pay their mortgage.

So my advise would be to start off small stay at home for as long as you can and save save save. My nephew’s situation is a little different as he works full time, he has used the advise of the Mortgage Brokers on this forum (they are excellent) and I am sure that they would also give you excellent advise when it was time for your first investment.

Good luck and remember the first step is always the biggest [biggrin]

Jenny1

Hey Eamo!
Sounds like youve already blown away 99% of all other 19 year olds by saving the 10K!!! You ‘ve done extremely well and yr not far off starting yr investing portfolio!!
I would say keep saving untill youve got about 20 to 25K and then go for it!! Keep researching and getting around people who are like minded and have done some succesful investing already.This is really powerful as you can feed off them and grow and learn from others mistakes before you embark on yr own journey.

I probably wouldnt give up work just yet also,as you will need to show the lenders that they can trust you with their money.

It is good to be able to feed yr portfolio with extra cash too when u are starting out. ie work in yr job and save up for another deposit or just pay down yr first prop mortgage a bit till the equity has increased and you can re mortgage it to buy more, then keep going.
This is how i did it from the age of 21.
I would say be wise in yr plans if you decide to team up with someone .(think it through-do we have the same goals /reasons for investing,do we both have utmost integrity etc etc)
It can be really helpful starting out but also can cause probs if not on the same path.

All the best mate, Definately Go for it !
Luke

We’ve got 70 yrs on planet earth,Lets make the most of every day!

how are you?

I am 20 years old and i am as well reading as much as I can , and saving like crazy. I already started a small portafolio with the stock market to try to make my money grow faster (it could as well go down, but I KEEP AN EYE ON IT , “MANAGEMENT” as steve call it.)so that way I can move into the property market.

The only thing i have to tell you is no matter what your friends say keep focus on what you are doing, dont leave your work you will need the cashflow so you can save as much money, we could talk, we may even team up, what do you think? lol. E mail me, I am very happy to know people of my age group with the same objectives, I find it hard to find them.

One more thing, I am 100% sure that if we keep on trying we will one day find what we are looking for, dont give up and go for GOLD.

Swifteagle!

great idea – physically write it down and give a copy to someone you trust who can give you a nudge every once in a while – 19 – there are going to be sooooo many destractions alway the way.

I Buy Property http://www.cashflowproperties.co.nz

hey here, id like to add that you want to enjoy yourself too, my first buy was at 19. You need to remember that there is a life to live also so it might be an idea to save 70% of your income and spend the other 30%. Remeber to have fun on your journey to wealth. Im not saying this to discourage you, just to make you aware that there is more to life than properties. Then again if houses are what make you happy, then go for broke ! [biggrin]

“It’s not how much money you make, It’s how you spend it that matters.”

Aspiring property developer

Giulio Taranto