I am 19 years old and looking for a mortgage so I can buy my first investment property. Where shoud I start?

Asked by Jonathon Hunt, Elk Grove, CA Mon Apr 6, 2009

I want to buy my first rental property and get started in the Real Estate Investment world. I am basically looking for a mentor or someone to push me in the right direction.

Help the community by answering this question:

+ web reference
Web reference:


Goat, , Denmark, IA
Thu May 28, 2009

I would avoid real estate as an investment until 30 year fixed rates are hittin on or near all time highs near 20%.

At that time home prices will be very cheap and tenants will pay off your homes quicker.

Terrible time to invest in housing.

Instead invest in super liquid silver and gold. Metals bull market is ongoing and few Americans have any clue at all about it yet their currency is preparing to collapse.

There are two lines in real estate the line for people wanting to get out and a line for people wanting to get in.

The longest line by a long shot is the for those folks wanting to get out of real estate...an agnst ridden group for sure.

At some point the downtrend will change but that is several years in the future. When agents declare, "Now is a horrible time to buy." then we may be at a bottom in price depreciation.

In the meantime exploit the new bull market in gold like the Chinese are doing...by the dips and read:




Agents are here to peddle anything you want to hear in order to justify getting you to buy property. The problem is that there positivism is without a credible basis in reality other than the comish they receive from buyers.

Beware of used property salespeople. They atre the ones who claimed, "Buy now or be priced out forever" as the market was bubbling.
0 votes
Erin Newingt…, Agent, Elk Grove, CA
Thu May 28, 2009
Hi Jonathon!

That is just great you are looking to build your portfolio! I just love that!

If you are available, we run a local investment club in Elk Grove that meets the third Tuesday of the month. This way you can learn more about how to prepare for this new purchase and find out what other investors are doing in our area.

Here is the website: http://www.ElkGroveREI.com

We would love to have you!
0 votes
Jim Walker, Agent, Carmichael, CA
Tue Apr 7, 2009
3 of 4 of the Gurus recommmended by posters have been through bankruptcy, Kiyosaki, Trump, and Robert Allen.. - Bankrupts....

Now I am all for second, third and fourth chances. but much of what Kiyosaki and Robert Allen have to offer in their books, tapes, seminars and other stuff is the kind of stuff that ranchers and cattleman have to zig zag to avoid.

Kiyosaki, for example, rouses seminar audiences by explaining that what accountants call an asset is really a liability. He is just plain wrong, but he smiles so when he says it.

Many of the "nothing down" devices promoted by Robert Allen were practices that required fraudulent acts (either against lenders or against sellers, and often against both) to succeed.

I provide a link that details the criticism of Kiyosaki and Robert Allen and other bogus gurus.

I would reccomend that you obtain real education, not ersatz guru hype. Your community College offers classes in Accounting, Real Estate Practices and Principles, Business law, Landlord Tenant law, Economics, and Management.

Additional courses that would be useful if you are thinking of being a hands on owner; are property management related. These would be intro to plumbing, electrical bsics, HVAc, Basic construction principles etc. This kind of practical knowledge will help you maintain and manage the properties that you acquire.
0 votes
Voices Member, , Benton County, OR
Tue Apr 7, 2009
The answer id...Be Smart! It is so cliche to say it, but build your foundation on solid ground. Cash Talks when you are young and a buyer. Knowledge Protects!

Just my Opinion..There are those in this Forum who invest, look, read, compare, find them and listen.
Think Small for your first venture, test your skills/knowledge in what you can write off as a learning experience if you call it wrong.
There are many kinds of investing, first step is to learn what they are and which suits you. Second, don't approach it as Rich by 20, rather retired by 40. That's an attainable goal you could beat.

Good luck, Dunes
0 votes
Erin, , South Lake Tahoe, CA
Tue Apr 7, 2009
Hi Jonathon: Wow, how impressive. First, check out Wendy Patton of Michigan at Wendy Patton.com. She is a fellow Keller Williams Realty agent who started investing in real estate when she was 21 years old, and now I would say she is in her 40's. Up to this date, she has bought and sold over 760 properties. She buys one home per week right now. Needless to say, she is certainly a millionnaire. She is one of the featured case studies in Gary Keller's best selling book, The Millionnaire Real Estate Investor. I highly recommend that this be the first book you read. You should also read Rich Dad, Poor Dad by Robert Kiyosaki. Why We Want You to Be Rich is another good one by Donald Trump and Robert Kiyosaki.

Jonathon--keep in mind that your first investment is the home you live in. It is truly your first real estate investment. If you've already done that, great. If not, get started by contacting a lender for loan pre-approval if you need it. Then get yourself connected with a Realtor. Someone who has been recommended to you by a friend or colleague as being knowledgeable and trustworthy.

This will get you started. Best of luck to you and what a great question and what a great time to get started investing here in Sacramento.

Erin Phillips
Keller Williams Realty
R and D Investors at Keller Williams Realty
Web Reference:  http://SoldByErin.net
0 votes
Crestico Rea…, , Los Angeles County, CA
Mon Apr 6, 2009
Dear Jonathan,

Wow!!! First let me congratulate you on what a great start you are creating for yourself. Congratulations! The best place to start, before making offers on any properties, is to secure your financing and know how much mortgage you will be able to afford.

I recommend that you contact a direct FHA Lender who will be able to work the numbers for you and then get a Realtor who will be able to show you appropriate properties within your price range.

I have an established relationship with a direct Lender and a dedicated representative to handle all my referrals. I suggest you contact him so that he can "crunch" the numbers and get you a great loan at a great rate.

His contact info is:
Mr. Houtan Hormozian
American Guardian Home Loans

Make sure you tell him you were referred by Crestico Realty, and I guarantee you will love the level of customer service and satisfaction you receive.

Good Luck and Happy Hunting!
Web Reference:  http://www.crestico.com
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Mon Apr 6, 2009
I applaud you on setting a goal like that at your age! I bought my first house at 21 after reading Robert Allen's book 'Nothing Down'...and no, I actually put down a 30% downpayment, with a 21% interest rate....during Carter's rein as president . Now you can put down as little as 3.5% to purchase your home.

Write down as many questions as you can think of, and eventually they will get answered. As they said, the first is to contact a lender. They can go through your finances with you to determine your credit worthiness. If your credit report is in good standing, then discussions of income/debt and how much you want to budget for a monthly payment are all discussions. As you advance through the loan qualification process, you may want to have a discussion on the tax advantages later...but first find out what you can afford.

After that you'll want to speak to a realtor and have them represent you in determining what type of home you're looking for, location, amenities, etc.

A good lender that I use a lot is Mark Holmes at American Pacific Mortgage. He can be reached at (916) 837-4360 or apm2868@yahoo.com. He works with alot of my first time homebuyers and can steer you right.

Have fun and good luck!
Web Reference:  http://www.suearcher.com
0 votes
Mike B, , Raritan, NJ
Mon Apr 6, 2009
I would suggest you concentrate on buying a primary residence first. Contact a local mortgage loan officer to see what you can qualify to buy.
0 votes
Dallas Texas, Agent, Dallas, TN
Mon Apr 6, 2009
I consult with many 1st time home buyers across the country happy assist you with your dreams.

GREAT you are 19 see the short and long term dreams of wealth you can gain with right investments. Not wanting to make mistakes.

You need to qualify for a loan in order purchase is your 1st start.


~ National Featured Realtor and Consultant, Lecturer regarding Credit Repair, Mortgage Loan Officer
Web Reference:  http://www.lynn911.com
0 votes
Terry O'Call…, Agent, Sacramento, CA
Mon Apr 6, 2009
Good for you Jonathon. What a great time to get in. First step - contact a loan officer and find out all the options available to you. Below is the contact info for someone I have used in a lot of transactions including my own. Second step - find a Realtor who knows the area you are looking in and is savvy about your goals of owning investment property. There is a lot of good info on our website for both buyers and sellers. Good luck to you.

Robert Turrietta
Vitek Mortgage Group
916-455-4279 - work
916-599-4279- mobile
Web Reference:  http://andreaandterry.com
0 votes
Thank you Terry. I am always available for my clients. Just shoot me a call.
Flag Fri Jul 15, 2016
Search Advice
Ask our community a question

Email me when…

Learn more