Like the title says, I am 22 years old, and have been pretty blessed financially. I own a business that requires minimal work, as well as working a full time job. Together, my income is close to $120k and my living expenses are around $15k a year (no family or anything). I've also saved up around $80k that is in semi-liquid investments like mutual funds or stocks.
That being said, I live in a growing city (Chattanooga) and I want to get into real estate. I have been reading articles online and my mind is going in a million directions. If I get a house, should I hire a management company since I already work 2 jobs? What price range should I pay given my financial status? How much should I put into a fund for repairs? Is AirBNB an option for time between tenants? How long should my mortgage be, if I can afford to pay it faster? I don't even know how the taxes work on this kind of stuff.
If anyone has tips for a young investor, quality learning materials (not this WikiHow crap), etc, or even good contacts in the Chattanooga area (that would be pretty cool lol) I would appreciate it. I just need to nail down my plan. What kind of house, price range, what kind of mortgage, target tenants, and management plans.
Thanks, my mind is all over the place right now so I apologize!
More real estate tips at Program Realty Wix site