Help - advice for 19yr old

[FIREdreamer]

Hi Daniel,

I would suggest that you use some of your $10,000 to first rent a place on Maui (you'll need money for security deposits). Then find a decent job on location. You might have to wait several years before buying a place of your own.

I came to America at age 23 with $2,500 in my pocket, 1 suitcase and 1 student visa. For five years I attended school while working on-campus at a job paying $8 an hour, saving as much as I could and building my credit. Because in America, nobody will lend you money to buy a condo if you don't have a credit history and it takes at least a few years to build your credit to the point where banks will lend you large sums of money. After graduating I had enough money saved up, a long enough credit history and a decent enough income to be able to buy my own place.
Citizenship is not required to buy RE down here, but most banks will require proof that you are here legally, some perhaps even requiring a green card. Which brings me to another question: which visa do you consider applying for before moving to Maui? Immigration to the US could be a problem. You must first apply for a visa which can, after a few years, open the door to permanent residency (green card) which down the road can lead to the US citizenship. It takes many years to get there depending on your visa. In my case it took 8 years before I became eligible to become a US citizen. If I had not been sponsored by my wife (a US citizen) it would have taken 10 years. People coming from certain countries also face a backlog when seeking permanent residency through employment due to immigration quotas, and it can take much longer. I don't know if Canada is among those countries.

[Nords]

Originally Posted by daniel01

My best bet might be to rent something in maui, get a job (I have a decent resume so hopefully shouldnt be a problem) and do schooling in the evening (perhaps online). Long term, I would want to open my business again, own property and get a degree, perhaps as a nurse incase I can't get clients (though I doubt that).

Well, if you want to learn about these things from discussion boards, then perhaps you should register & post at HawaiiThreads.com.

Islands Ahoy - HawaiiThreads.com - The Hawaii Forum

[lucija]

Maui may be a bit of a too optimistic goal at this point in your life... Say that you land in Maui today - how will you get a job? As a non-resident you will not have a work permit and you will not be able to work legally (been there/done that and it was no fun at all). Perhaps it may be easier to immigrate to US from Canada, but in general it's not quite as simple (you need to find a close family member or employer to sponsor you).

On the other hand, it sounds like you need a change of scenery - why not move somewhere more urban within Canada? Vancouver is a possibility, since you're already familiar with the area. Once there, get any kind of job to pay rent and use evenings (if you work days or days if you work nights) and weekends to build you your business/further education. There's nothing like a crappy job to keep you motivated.

In a few years you may find out that (1) you really like the area/lifestyle and there's no need to move or (2) you still want to move to Maui and now you have better education (perhaps an internship in US with a possibility of sponsorship?), more business savvy and more financial backing to make that possible.

I know it is hard, but you can make it!


Edit: I forgot to mention you can get into US legally as a student. However, to do that you need to prove you have substantial assets to support yourself while in the US and pay for the tuition, etc (I don't think 10k is enough). Also, as a student you have very limited job opportunities (on-campus only, less then 20 hrs per week, etc. --- meaning you will not make nearly as much as you need).

[jambo101]

Why not just move to Vancouver for now and finish your schooling.
Go to school all day,do an evening job and your $10k should last a while.