21, bought my first home this week, and starting work next week, where next?

Hello InvestFourMore family, 

To start with some personal context, I graduated last week with a B.S. in Finance, and bought my first home with my fiance this week. We both start working full-time at a corporate position with a large auto-manufacturer next week, and we get married in July. With both of us being passionate about personal finance, and entrepreneurial minded, we want to start planning for retirement right away. 

Not planning to have kids for quite some time our expenses will be quite low, we will be left with roughly 50% of our after-tax take-home pay to save and invest. So I figured the good people here on this forum could help suggest ways to start. I know Mark suggests becoming a real estate agent to lower costs when in investing in rental properties. So my first question is whether this is a good goal for someone who works full-time at corporate job? Would I be getting my licence to lower costs on my personal purchases, or would it be realistic to use the licence for outside work while simultaneously working my 9-5 job?  

The above question is really the first thing I want to get straightened out. The next question is when should I make the plunge into rental properties? As I said, I have 50% of my after-tax take-home pay for savings and investments, but I wasn't sure if it was smart to get my real estate licence before making any purchase, or if any other here had advice they'd like to share based on my circumstance. 

Thank you all for your advice in advance, I have lots of time to get into this business, which is great. So I want to make sure I make all the necessary steps in preparing myself. I look forward to learning all I can. 

Comments

  • I would not get your license right away. I don't think it makes sense until you have bought a few properties, know you like it and are buying more than 1 a year
    Creator of Invest Four More
    If you want more help with your investing, check out http://investfourmore.com/blueprint-for-successful-real-estate-investing/


  • Posts: 2
    Mark,

    Thanks a lot for the speedy reply, avid good advice. I had a feeling that becoming an agent would be far down the line. I am in the middle of reading your books, and deciding on what to do with the free capital I'm receiving from my income.

    Step one for me looks to be to build up a 20% down payment, then patiently waiting for a property I can buy below market value.

    Again thank you,

    DJ Cline
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