How old were you when you bought your first piece of real estate?

[dinted voice]

When I was 23 (2 years ago), bought a 3 BR 2 BA house (1200 square feet) for $130,000. House was new construction and my wife and I have since paved driveway, stamped concrete patio, fenced in backyard (vinyl), and done more work than I could ever have imagined! Love every minute though!

 

[rnoldh]

I was 29 and it was a $50,000 Condo!

But this was in the mid 1970s in Houston, Tx., when things were really low priced.

After building up some equity through the early 1980s, the market absolutely tanked in Houston in 1985-1986 and I was very fortunate to get out of the Condo for what I owed on it.

In general, I would highly recommend buying in your 20s if you are able to and stable. And that is both for a residence and for investment purposes.

 

[Hillsdale]

I was 29 when I bought my 2 br condo. It cost me $125k in 1995. Sold it 7 years later for $250k. By the time I bought my 4br/ 3.5ba townhouse, the realestate market really took off. Sold it 4 years later for a HUGE profit. Now, I am in my dream house built to my specs. I will be staying here for a while.

 

[JonB27]

I was 23 and it was definetly my best investment yet, I have since upgraded substantially!

 

[JesseJB]

Man Im 25 and throwing away $770/mo renting now feel even more behind the pack. Thanks guys!!

 

[merkur]

..

 

[TheHenry]

I'm currently looking at some property in Florida in which I might invest in, depending on the required amount of capital. Still on my way to gather information and capital. Hopefully I'll make it before I turn 30.

 

[Etienne]

28.

 

[supercarl]

19

 

[M Stanfield]

Are all you guys asskickers or what?! Take this guy, this guy's an asskicker:

Originally Posted by KBW

I was 20 (22 now) bought a condo next to the football stadium at my school for 320K (prebuild price) and they are already going for over 500 but I'm going to keep it. I had 100K from my chemical lawn business saved up (with my greenskeeper we made over 400K and split 50/50 while I was in hs on the side doing people's lawns while also working on the golf course). My dad gave me 100K and I financed 160 and used ~40 to make some changes in the kitchen and buy furniture. I only live there during the week since then I have gotten a lake house about 15-20 miles from campus. I'm still doing the same business (takes about 10-12 hours week) and start working as a CPA/auditor on the 14th.

i haven't bought jack; I've been renting and started working as a CPA/auditor. I have $10K in savings, generally $3K in checking, and $6K locked in a CD. I've never even considered owning property. What am I doing wrong?

 

[dtmt]

Originally Posted by KBW

I was 20 (22 now) bought a condo next to the football stadium at my school for 320K (prebuild price) and they are already going for over 500 but I'm going to keep it. I had 100K from my chemical lawn business saved up (with my greenskeeper we made over 400K and split 50/50 while I was in hs on the side doing people's lawns while also working on the golf course). My dad gave me 100K and I financed 160 and used ~40 to make some changes in the kitchen and buy furniture. I only live there during the week since then I have gotten a lake house about 15-20 miles from campus. I'm still doing the same business (takes about 10-12 hours week) and start working as a CPA/auditor on the 14th.

How did your dad give you $100k without having half of it taken away as gift tax?

 

[Shraka]

... Oh crap. I feel really poor. I'm 26 and still don't have anywhere near enough money for a house.

I need a better job.

 

[constant struggle]

the way prices are in northern new jersey i still won't be able to buy for a while, i am 23 :|

 

[briancl]

About to send my first mortgage payment off to the bank... so 26.

Purchase price over 500k.

 

[Skip87]

Originally Posted by briancl

About to send my first mortgage payment off to the bank... so 26.

Purchase price over 500k.

What do you do for a living, I must assume you're only 4 years out of undergrad?